Jidong Cement to acquire 49% stake in Beijing BBMG Mangrove

Jidong Cement to acquire 49% stake in Beijing BBMG Mangrove
09 October 2019


China’s BBMG Corp is set to sell its entire 49 per cent stake in Beijing BBMG Mangrove to Jidong Cement for CNY1.72bn (US$241m).

Jidong Cement is expected to fund the acquisition of the waste management company in an all-cash deal, according to a statement by BBMG. The proceeds from the divestment will be used to meet BBMG’s working capital requirements.

Published under Cement News