Beijing Shougang to buy into Hyundai's China partner


SHANGHAI, Dec 23 (Reuters) - Beijing Shougang Co. Ltd. , the listed unit of China's sixth-largest steel maker, said it would take a 23.62 percent stake in the Chinese partner of Hyundai Motor for $136 million. Shougang said it would pay 1.06 billion yuan ($135.6 million), including 523.88 million yuan in cash and 536.24 million yuan worth of non-core assets, for its state parent's stake in Beijing Automotive Investment Holdings Co. Ltd. Beijing Automotive, which has a 50-50 venture in ...

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