# Jidong Cement to acquire 40% stake in Zhongfei Building Materials from China-Africa Fund

Jidong Cement, a subsidiary of BBMG Group, plans to acquire a 40% stake in Zhongfei Building Materials from China-Africa Development Fund for 200.124 million yuan, as approved by the board on April 29, 2024.

- Type: Acquisition
- Announced: 2024-04-29
- Where: China
- Value: $27.6M (200.1M CNY)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Tangshan Jidong Cement](https://endata.com/companies/30286.md)
- [BBMG Group](https://endata.com/companies/29065.md) (partner)
- [China-Africa Development Fund](https://endata.com/companies/77083.md) (partner)
- [Zhongfei Building Materials](https://endata.com/companies/77084.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/1114988.html), 2024-04-29: "公司同意所属子公司唐山冀东水泥股份有限公司以自有资金收购中非发展基金有限公司持有的所属子公司中非冀东建材投资有限责任公司40%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.