TCC to acquire Yingde Chien Kuo Mining, China

TCC to acquire Yingde Chien Kuo Mining, China
03 June 2011

TCC International (Hong Kong) Co, Ltd and TCC (Yingde) Cement Company Limited have entered into a framework agreement to acquire an 83.69% stake in Yingde Chien Kuo Mining Industrial Co, Ltd, a China-based limestone quarrying company, from Golden Canyon Limited, Wuxi Chien Bang Concrete  and Nantong Chien Cheng Concrete. The transaction is valued at approximately HKD216.49m (US$27.82m).

Both TCC International (Hong Kong) and TCC (Yingde) Cement are indirect wholly-owned subsidiaries of TCC International Holdings Limited, engaged in manufacturing and distributing cement.

Concurrently, TCC International (Hong Kong) has also agreed to acquire 100% stake in Jiangsu Chien Kuo Mining Industrial from Golden Canyon Limited, for approximately HKD137.49m (US$17.67m). Jiangsu Chien Kuo holds the remaining 16.31% stake in Jiangsu Chien Kuo.
Published under Cement News