# Shangfeng Cement subsidiary to acquire 85% of Songta Cement for $17.3M

Shangfeng Cement's wholly-owned subsidiary Zhejiang Shangfeng Building Materials plans to acquire 85% equity of Inner Mongolia Songta Cement for 112 million yuan ($17.3 million). After completion, Songta Cement will become a controlled subsidiary.

- Type: Acquisition
- Announced: 2021-02-25
- Where: China
- Value: $17.3M (112.0M CNY)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Shangfeng Cement](https://endata.com/companies/53454.md) (acquirer)
- [Inner Mongolia Songta Cement](https://endata.com/companies/53455.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/416823.html), 2021-02-25: "为提升公司总体竞争力，公司全资子公司浙江上峰建材有限公司拟以1.12亿元收购内蒙古松塔水泥有限责任公司85%股权"

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