Posco and other shareholders agree to sell stakes in affiliate

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Posco and other shareholders agree to sell stakes in affiliate

Korean steelmaker Posco said on Thursday that it and other shareholders of Posco Specialty Steel plan to sell their stakes to SeAH Besteel for 1.1 trillion Korean won.

Posco agreed to sell its 72 percent stake as part of the company’s effort to bolster its balance sheet.

Reuters

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