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Taiwan Cement Corp's Subsidiary to Acquire and Transfer Equity Shares


Thursday, 3 Jan 2013 06:16am EST 

Taiwan Cement Corp announced that its subsidiary, TCC International Holdings Limited, has signed a framework agreement with a Mainland China-based cement company (Company A), to acquire a 2.06% stake in a cement holdings company (Company B) for RMB 16 million, and also acquire a 10% stake in two Luzhou-based cement companies and a Hejiang-based cement company, as well as a 25% stake in a Luzhou-based concrete company from Company A for RMB 53 million. The Company will also transfer a 90% stake in a Zunyi-based, a Bijie-based and a Xishui-based cement company, a 75% stake in a Zunyi-based concrete company, a 70% stake in a Bijie-based concrete company and a 100% stake in a Guizhou-based cement management company to Company A for RMB 810 million. After the transaction, the subsidiary will hold a 100% stake in Company B. 

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