Goldman buys 25 per cent of Chinese cement maker
Goldman Sachs has agreed to buy 25 per cent of privately owned Chinese cement maker Hongshi Cement for $80m, the Chinese firm said on Friday.
The deal underscores strong foreign interest in China, where global investment banks and private equity firms – from Morgan Stanley to Carlyle – are eager to cash in on the country’s 10 per cent plus annual economic growth.
Hongshi Cement, based in Zhejiang province, has an annual production capacity of 16.5Mt.
Published under Cement News
