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News China National Building Material divests Qilianshan Cement

China National Building Material divests Qilianshan Cement

Written by Global Cement staff 25 December 2023
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China: China National Building Material (CNBM) has divested control of Qilianshan Cement to China Communications Construction (CCC) and China Urban-Rural Holding Group as part of an asset restructuring agreement agreed in May 2022. Following the transaction CCC holds an 85% equity interest in Qilianshan Cement and China Urban-Rural controls the remaining 15% portion.

As part of the asset swap agreement CNBM arranged to take control of companies including Southwest Municipal Engineering Design and Research Institute of China, China Northeast Municipal Engineering Design & Research Institute and CCCC Highway Consultants. In a statement CNBM said it no longer had control of the board of directors of Qilianshan and that both it and Qilianshan Cement were no longer its subsidiaries.

Last modified on 03 January 2024
Published in Global Cement News
Tagged under
  • China
  • China National Building Material
  • corporate
  • Divestments
  • Qilianshan
  • China Communications Construction
  • China UrbanRural Holding
  • Southwest Municipal Engineering Design and Research Institute of China
  • China Northeast Municipal Engineering Design & Research Institute
  • CCCC Highway Consultants
  • GCW640
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