Taifu Kechuang's Purchase of Prosperity Kingsfield Secures EU Nod

08:29 AM EDT, 07/22/2026 (MT Newswires) -- Citic Group-owned investment holding platform Taifu Kechuang Special Steel (Shanghai) Co Ltd's takeover of Hong Kong-based steel raw materials and products company Prosperity Kingsfield secured approval from the European Commission. The regulator said Wednesday the deal would not raise competition concerns due to the limited combined market position of the companies after the transaction.