Xinxing Ductile Iron Pipes has reached an agreement to acquire a 5% stake in Emerging Jihua Group for CNY1.62bn ($243.25m), representing 192.85 million shares priced at CNY8.435 ($1.26) each.

The target company is involved in the metallurgy and processing of ferrous metal, manufacturing of textile and garments, and special equipment, as well as real estate development.

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Sicagen India has fully acquired Danish Steel Cluster.

Sicagen supplies building materials and manufactures industrial products.

Danish Steel Cluster manufactures stainless steel and mild steel fabricated parts.

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