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.

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.