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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