China Resources Cement Holdings acquired stakes in four cement companies for a total of CNY406m (US$61.7m), according to reports from local press, citing a company filing.
The purchases include a 29 per cent stake in Zhujiang Cement, a 10 per cent stake in Guangzhou Yubao Cement, a 10 per cent stake in Yuesheng Concrete and a 10 per cent stake in Yuequn Concrete.
Upon the completion of the transactions, China Resources Cement Holding will hold a 64.5 per cent stake in Zhujiang Cement and 55 per cent stakes in the remaining three companies.
