# BBMG and Jidong Cement to form joint venture with approved asset valuations

BBMG Group and Tangshan Jidong Cement received approval from the Beijing SASAC for the valuation of assets they will contribute to a new joint venture. BBMG's assets were valued at approximately CNY 7.313 billion and Jidong's at approximately CNY 8.217 billion.

- Type: Acquisition
- Announced: 2018-02-26
- Where: China
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [BBMG Group](https://endata.com/companies/29065.md)
- [BBMG Group](https://endata.com/companies/29065.md) (acquirer)
- [Tangshan Jidong Cement](https://endata.com/companies/30286.md) (partner)
- [Tangshan Jidong Cement](https://endata.com/companies/30286.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/108403.html), 2018-02-26: "2018年2月26日，北京市国资委对公司与冀东水泥在此次组建合资公司中双方出资资产的评估结果进行了核准。"
- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/115937.html), 2018-03-28: "2018年3月28日，公司收到香港联交所关于此次交易的批准函，同意公司进行此次交易。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.