China Resources to buy Guangxi Yufeng stake, China

China Resources to buy Guangxi Yufeng stake, China
Published: 02 September 2005

China Resources Cement Holdings Ltd said it has agreed to acquire the remaining 9.1% stake in Guangxi Pingnan China Resources Yufeng Cement Co Ltd that it does not already own for CNY64.62m.  China Resources company secretary Peter Lee said the group will wholly own Guangxi Pingnan upon completion of the transaction. "The acquisition will further strengthen and consolidate the group’s business position in the cement business in the (China’s) Pearl River Delta," Lee said.