China: Socam to sell part of its stake in Nanjing Jiangnan Cement

Socam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports.

Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date.