Sources have disclosed to Bloomberg that Abu Dhabi’s International Holding Company is in discussions to acquire a controlling stake in Doverco International Trading Holding (DITH), a firm focused on steel trading and production.
They indicated that the arrangement is still being clarified, and negotiations have been ongoing for some time, with no guarantee of a finalized deal. If the acquisition is completed, it would represent a strategic move for the Emirati company to expand its footprint in the metals sector, following its recent purchases of the Mufulira copper mine in Zambia and the Bisie tin mine in the Democratic Republic of the Congo.
According to data released on the DITH website, the company’s steel trading volume reached 10.3 million tons for the year ending September 2024, while its steel production facilities yielded 475,000 tons during the same period. Currently, the company is owned by China’s HBIS Group, which stands as the fifth largest steel producer globally.