# 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.

- Type: Acquisition
- Announced: 2019-01-10
- Where: China
- Value: $227.0M (1.54B CNY)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Jidong Cement](https://endata.com/companies/29064.md) (acquirer)
- [BBMG Group](https://endata.com/companies/29065.md) (partner)

## Sources

- [cemnet.com](https://www.cemnet.com/News/story/165666/bbmg-to-sell-7-cement-companies-to-jidong-cement.html), 2019-01-10: "the agreements are to resolve issues of competition between the two companies"

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