BBMG Board OKs Subsidiary's More than 428-Million-Yuan Stake Acquisitions

MT Newswires Live

2025/01/15

The board of building materials manufacturer BBMG (SHA:601992) approved subsidiary Jidong Cement's proposed acquisition of stakes of 100% in Hengwei Cement, 70% in Hongguang Mining and 100% in Benxi Yongxing.

The transaction is valued at 428.5 million yuan, according to a Wednesday filing with the Shanghai bourse.

Hengwei Cement produces cement, Hongguang Mining is engaged in limestone mining and processing, and Benxi Yongxing sells slag and new building materials.

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