Nippon Steel has announced its decision to sell shares in Posco Holdings to enhance asset efficiency through asset compression, according to a press release. The Japanese steel firm currently holds 2.89 mln shares, representing a 3.5pct stake in Posco Holdings.
The timing of the sale will depend on an assessment of market trends and other relevant factors. Despite this sale, Nippon Steel plans to maintain its cooperative measures with Posco and continue working towards further collaboration and results in the future.
Nippon Steel originally acquired its stake in Posco in 2000 as part of a strategic alliance agreement. The company, which is also pursuing a USD 14.1 bln acquisition of U.S. Steel, has stated that the impact of the Posco share sale on its financial statements for the fiscal year ending March 2025 remains unspecified for now. Nippon Steel will provide timely updates if any significant developments arise.
