BBMG sells seven cement companies to Jidong Cement for CNY1.54bn

BBMG Corp will sell its entire equity interests in seven cement companies to Jidong Cement for CNY1.54 billion (US$227 million). The two companies also agreed to contribute CNY1 billion to the registered capital of their joint venture BBMG Jidong Cement (Tangshan) Co Ltd.

“the agreements are to resolve issues of competition between the two companies”cemnet.com

• 1 source
• cemnet.comBBMG to sell 7 cement companies to Jidong Cement | CemNetJan 10, 2019

Summarized from public sources; check the original articles before acting on it.