# Dongwu Cement to sell stake in Shanghai Biofit Environmental Technology

Dongwu Cement's subsidiary Xinhua Shanghai Investment Management plans to divest its 62.26% stake in Shanghai Biofit Environmental Technology Co for CNY 22 million ($3.14 million).

- Type: Acquisition
- Announced: 2019-12-18
- Where: China
- Value: $3.14M (22.0M CNY)
- Status: announced
- Products: organic wastewater and sludge treatment, urban organic waste treatment
- Sectors: [Water Treatment Equipment](https://endata.com/sectors/water-treatment-equipment.md)

## Companies

- [Dongwu Cement](https://endata.com/companies/44003.md)
- [Xinhua Shanghai Investment Management Co](https://endata.com/companies/44004.md) (partner)
- [Shanghai Biofit Environmental Technology Co](https://endata.com/companies/44005.md) (target)

## Sources

- [cemnet.com](https://www.cemnet.com/News/story/167958/dongwu-cement-to-sell-stake-in-wastewater-treatment-company.html), 2019-12-18: "The total consideration for the divestment is estimated at CNY22m (US$3.14m)."

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