China National Building Material Boosts Stake in Beijing Composite

China National Building Material Co (DE:D1Y) has released an update.

China National Building Material Co. has announced a connected transaction involving its subsidiary, Sinoma Science & Technology, acquiring a 4.1349% equity stake in Beijing Composite from CNBM United Investment for RMB54.4443 million. This acquisition will increase Sinoma Science & Technology’s holdings in Beijing Composite to approximately 90.0793%. The transaction, while subject to reporting requirements, is exempt from the need for shareholder approval.

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