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News New Tianshan Cement to acquire majority stake in Ningxia Building Materials

New Tianshan Cement to acquire majority stake in Ningxia Building Materials

Written by Global Cement staff 28 June 2023
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China: China National Building Material (CNBM) subsidiary New Tianshan Cement plans to increase its stake in Ningxia Building Materials to 51% from 49% for US$373m. Reuters has reported that New Tianshan Cement will raise funds through the issuance of US$971m-worth of commercial papers.

Further to the restructuring, CNBM will enlarge its stake in Ningxia Building Materials subsidiary Ningxia Saima by 12%.

Published in Global Cement News
Tagged under
  • China
  • CNBM
  • New Tianshan Cement
  • Acquisition
  • Stake
  • corporate
  • Ningxia Building Materials
  • GCW614

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