# Jidong Cement to buy 40% stake in China-Africa Jidong Building Materials Investment

Jidong Cement, a subsidiary of Jinyu Group, agreed to purchase a 40% stake in China-Africa Jidong Building Materials Investment from the China-Africa Fund for approximately RMB 200.1 million. The target company holds a stake in Mamba Cement in Africa.

- Type: Acquisition
- Announced: 2024-04-29
- Where: China
- Value: $27.7M (200.1M CNY)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Jidong Cement](https://endata.com/companies/29064.md) (acquirer)
- [China-Africa Fund](https://endata.com/companies/77121.md) (partner)
- [China-Africa Jidong Building Materials Investment](https://endata.com/companies/77122.md) (target)

## Sources

- [news.futunn.com](https://news.futunn.com/en/post/41647951/jinyu-group-02009-hk-jidong-cement-plans-to-purchase-40), 2024-04-30: "Jidong Cement conditionally agreed to buy and China-Africa Fund was conditional to sell its underlying shares (that is, 40% of the shares of the target company to be purchased by Jidong Cement under the share transfer agreement)."

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