‘Iron Princess’ Set To Buy – Not Be Bought – Robin Kwong
From Financial Times:
Diana Chen, one of China’s richest women, is not your typical iron industry baron. Ms Chen, 36, is a Western-educated “princeling”, as the children and grandchildren of China’s communist elite are known. Her late grandfather, Lu Dong, was China’s metallurgy minister in the 1960s and 1970s.
This summer, Ms Chen launched a hostile takeover for Hong Kong-listed China Oriental Group , which controls a mid-sized steel mill in Hebei province . Her bid came after a falling out with Han Jingyuan, Oriental’s chairman, who controls45 per cent of the company. [Full Text]