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China Resources Cement Holdings Ltd's China Resources Cement Investments Limited Announces Acquisition Of Hainan Wuzhishan Dajiangnan Cement Limited


Wednesday, 2 Jan 2013 05:19am EST 

China Resources Cement Holdings Ltd announced that on January 02, 2013, China Resources Cement Investments Limited, a wholly owned subsidiary of the Company, has entered into an agreement with six independent third parties namely, Zhang Hongbin, Fan Gaotuan, Zhang Xuegong, Zhao Junlin, Zhang Chengxiao and Yuan Yongxin (the Agreement) for acquiring 100% equity interests (the Acquisition) in Hainan Wuzhishan Dajiangnan Cement Limited (the Target Company). The total consideration for the Acquisition is RMB53.0 million (equivalent to approximately HKD65.2 million), which will be satisfied in cash using the Company’s internal resources. The Target Company was established in the People’s Republic of China (the PRC) with a registered capital of RMB25.0 million (equivalent to approximately HKD30.8 million), which has been fully paid up. It operates a cement grinding line with annual production capacity of 600,000 tons in Maoyang Town, Wuzhishan City, Hainan Province, the PRC. 

Company Quote

5.56
-0.05 -0.89%
3:59am EDT