New Tianshan Cement to acquire majority stake in Ningxia Building Materials

Written by Global Cement staff 28 June 2023

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

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