Building materials manufacturer BBMG (SHA:601992) subsidiary Handan BBMG Commercial Concrete plans to acquire a 90% stake in Hongpeng Commercial Concrete for 34.2 million yuan.
Hongpeng Commercial Concrete has an annual production capacity of 1.2 million cubic meters of concrete, according to a Wednesday filing with the Shanghai bourse.
The stake will be acquired from Hebei Fengfan and Hebei Zhuida, with payments to be made in four installments.
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