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China National Building Material (CNBM) plans to restructure Sinoma Cement shareholding. Sinoma International Engineering agreed to buy $174M worth of shares, and together with New Tianshan Cement will buy $975M worth, increasing Sinoma Cement's share capital by 67% to $436M.
China National Building Material subsidiary New Tianshan Cement plans to increase its stake in Ningxia Building Materials to 51% from 49% for $373 million.