# Jidong Cement to absorb Jinyu Jidong Cement in $2.1B deal

Beijing Jinyu Group announced that Tangshan Jidong Cement will absorb Jinyu Jidong Cement (Tangshan) Co., Ltd., with Jinyu Group exchanging its 47.09% stake in the joint venture for new Jidong Cement shares. The transaction is valued at approximately 13.63 billion yuan ($2.1 billion). The board approved the plan on March 31, 2021.

- Type: Acquisition
- Announced: 2021-03-31
- Where: China
- Value: $2.10B (13.6B CNY)
- Status: announced
- Products: cement, building materials
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Tangshan Jidong Cement](https://endata.com/companies/30286.md) (acquirer)
- [Jinyu Jidong Cement (Tangshan) Co., Ltd.](https://endata.com/companies/54138.md) (target)
- [Beijing Jinyu Group](https://endata.com/companies/54181.md) (investor)

## Sources

- [epaper.cs.com.cn](https://epaper.cs.com.cn/zgzqb/html/2021-04/01/nw.D110000zgzqb_20210401_7-B028.htm), 2021-04-01: "同意公司以所持金隅冀东水泥（唐山）有限责任公司47.09%的股权认购唐山冀东水泥股份有限公司新发行的股份，由冀东水泥吸收合并合资公司"

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