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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.