China: Huaxin Cement has signed a capital injection agreement with Huangshi State-owned Assets Company to acquire a 5.2% stake in the latter for US$150m. The producer says that it will strengthen its cooperation with Huangshi State-owned Assets Company in order to accelerate development of its non-cement business. It said that the transaction will also improve its innovation capabilities, helping it to achieve a low-carbon transformation. Huangshi State-owned Assets Company indirectly owns a 16% share of Huaxin Cement.
Huaxin Cement to acquire a 5.2% stake in Huangshi State-Owned Assets Company
URL: https://globalcement.com/news/item/14181-huaxin-cement-to-acquire-a-5-2-stake-in-huangshi-state-owned-assets-company
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