# Befar Group to acquire 35.6% stake in Lubei Group for $1.7B

Befar Group (Binhua Co., Ltd.) announced it will acquire 100% of Hainan Jinyuan New Materials for 1.211 billion yuan, indirectly obtaining a 35.6% stake in Shandong Lubei Enterprise Group, a large chemical conglomerate.

- Type: Acquisition
- Announced: 2023-09-22
- Where: China
- Value: $166.0M (1.21B CNY)
- Status: announced
- Products: oxides, titanium dioxide, methane chloride, salt, bromine, fertilizer, cement, lithium carbonate, lithium iron phosphate
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Befar Group](https://endata.com/companies/35077.md) (acquirer)
- [Hainan Jinyuan New Materials](https://endata.com/companies/72779.md) (target)
- [Shandong Lubei Enterprise Group](https://endata.com/companies/72780.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/998559.html), 2023-09-22: "公司拟以12.11亿元收购杭州锦江集团有限公司持有的海南锦元新材料有限公司100%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.