Tianjin Shuangsi Trading Co. Limited agreed to acquire General Steel Investment Co., Ltd. from General Steel Holdings, Inc. (OTCPK:GSIH) for $0.3 million on July 31, 2019. As per the terms, $0.3 million purchase price will be paid by cancellation of the payables owed by General Steel Holdings to Tianjin Shuangsi. The closing of the transaction is subject to the approval by the shareholders of both parties and board approval of General Steel Holdings, Inc.. The shareholders and board of General Steel Holdings, Inc. approved the deal. The transaction is subject to customary closing conditions.