# China National Building Material sells 25 subsidiaries to Sanshi South for CNY 1.316 billion

China National Building Material Company (CNBM) announced that its indirect subsidiaries Zhejiang South Cement and Jinhua South Cement will transfer their equity in 25 indirect subsidiaries (24 concrete companies and one mining company) in Zhejiang province to Sanshi South, a 90%-owned subsidiary, for CNY 1.316 billion.

- Type: Acquisition
- Announced: 2018-06-12
- Where: Zhejiang Province, China
- Value: $205.0M (1.32B CNY)
- Status: announced
- Products: ready-mix concrete, construction aggregates
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [China National Building Material Group](https://endata.com/companies/20207.md)
- [Sanshi South](https://endata.com/companies/32520.md) (acquirer)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/131592.html), 2018-06-12: "此次运用三狮集团作为平台，进一步整合商品混凝土业务及矿业，并满足集团内部整合的需求。"

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