# Nine Dragons Paper to buy packaging businesses for about RMB 628 million

Nine Dragons Paper announced it will acquire equity in nine Hong Kong and mainland China packaging companies from their owners for about RMB 628 million, plus a 40% stake in a corrugated packaging joint venture. The deal is aimed at integrating upstream and downstream packaging operations.

- Type: Acquisition
- Announced: 2019-07-26
- Where: China
- Value: $91.0M (628.0M CNY)
- Status: announced
- Products: corrugated board, paper packaging, packaging paper
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Nine Dragons Paper Holdings](https://endata.com/companies/3831.md) (acquirer)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/222765.html), 2019-07-26: "总代价约为人民币6.28亿元 (total consideration of about RMB 628 million)"

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