Baker & McKenzie has the lead role advising a consortium of five Chinese companies on a $2 billion investment in a Brazilian metal company.
The consortium–CITIC Group, Anshan Iron & Steel Group Corp., Baosteel Group Corp., Shougang Corp. and Taiyuan Iron & Steel Group Co. Ltd.–is acquiring a 15-percent stake in Companhia Brasileira de Metalurgia e Mineração (CBMM). According to The Wall Street Journal, the Brazilian company produces 80 percent of the world’s niobium, a metal used to strengthen steel which is frequently used in the production of cars and natural gas pipelines.
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