China’s Yaowangshan Cement to be 100%-owned by WCC

With a total value of CNY 767 million (€110.3 million/US$121.43 million), a 100% equity interest in China-based cement maker Yaowangshan Cement will be acquired by West China Cement (WCC) from China Jiantou Trust. The acquisition will be settled in cash. The value comprises of CNY 376 million in shareholders' loans and CNY 392 million of share capital.
November 2, 2015 Read time: 1 min

With a total value of CNY 767 million (€110.3 million/US$121.43 million), a 100% equity interest in China-based cement maker Yaowangshan Cement will be acquired by 8042 West China Cement (WCC) from China Jiantou Trust.

The acquisition will be settled in cash. The value comprises of CNY 376 million in shareholders' loans and CNY 392 million of share capital.

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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.

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