# BBMG Group's JV Jinyu Jidong Cement to merge with Jidong Cement

BBMG Group announced that its joint venture Jinyu Jidong Cement (Tangshan) Co., Ltd. will be absorbed and merged with Jidong Cement. Jidong Cement will issue shares to BBMG as consideration for BBMG's 47.09% stake in the JV, increasing BBMG's effective stake in Jidong Cement to about 56.58%.

- Type: Acquisition
- Announced: 2021-03-31
- Where: China
- Status: announced
- Products: cement, clinker
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Jidong Cement](https://endata.com/companies/29064.md) (target)
- [BBMG Group](https://endata.com/companies/29065.md) (acquirer)
- [Jinyu Jidong Cement (Tangshan) Co., Ltd.](https://endata.com/companies/54138.md) (target)

## Sources

- [zhitongcaijing.com](https://www.zhitongcaijing.com/content/detail/440767.html), 2021-03-31: "订立吸收合并协议将进一步加强公司在冀东水泥的控制地位，并减少不必要的持股架构，同时提高公司及冀东水泥的管理效率。"

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