China National Materials Co Ltd Announces Proposed Acquisition Of 55% Equity Interest In WXC Through Subsidiary

China National Materials Co Ltd announced that Ningxia Building Materials-a subsidiary of the Company and XSGF entered into the WXC ETA, pursuant to which Ningxia Building Materials has agreed to acquire 55% equity interest in WXC held by XSGF for a cash consideration of RMB264,110,000. WXC is currently owned by Ningxia Building Materials and XSGF as to 45% and 55%, respectively. WXC will become a wholly owned subsidiary of Ningxia Building Materials and an indirect subsidiary of the Company.