Yongan Cement to be 100%-owned by Tianrui Cement

With a total of CNY 842 million (€118.80 million/US$132.46 million), 100% equity interest in Henan Yongan Cement (Yongan Cement) will be sold to China Tianrui Group Cement (Tianrui Cement) by China-based Tianrui Group. The acquisition will be settled via the issuance of 520 million shares in Tianrui Cement to Tianrui Group. Once the deal is completed, Tianrui Group's shareholdings in Tianrui Cement will rise to 73.93% from current 68.28%. The price of a share to be issued is set at CNY 1.95.

September 10, 2015 Read time: 1 min

The acquisition will be settled via the issuance of 520 million shares in Tianrui Cement to Tianrui Group.

Once the deal is completed, Tianrui Group's shareholdings in Tianrui Cement will rise to 73.93% from current 68.28%.

The price of a share to be issued is set at CNY 1.95.

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China Recycling to inject assets into Qinling Cement

China Recycling Development Corporation will inject assets worth US$293.17 million (CNY 1.8 billion) into Shaanxi Qinling Cement Co, becoming the latter's controlling shareholder.

Qinling Cement's current controlling shareholder, Tangshan Jidong Cement Co, plans to transfer 100 million shares in Qinling Cement to China Recycling at a price of CNY 2.75 each.

Meanwhile, Qinling Cement is said to be intending to sell all assets to Jidong Cement and issue additional shares to 11 investors including Chin