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West China Cement ( (HK:2233) ) just unveiled an update.
West China Cement Limited has announced a significant acquisition of a 91.02% equity interest in Cimenterie de Lukala SA (CILU) for a total consideration of approximately USD 3.7 million. This acquisition is part of a broader transaction totaling around USD 119.65 million, including an Intra-Group Transfer Agreement. The strategic move aims to enhance West China Cement’s development and cement production capacity in the Democratic Republic of the Congo (DRC) and across Africa. The transactions are notable as they require shareholder caution due to their conditional nature, and they mark a substantial step in the company’s international growth strategy.
More about West China Cement
West China Cement Limited operates within the cement industry and is incorporated in Jersey. The company is engaged in producing cement, with a focus on expanding its presence in Africa through strategic acquisitions.
YTD Price Performance: -7.92%
Average Trading Volume: 6,000
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.02B
Learn more about 2233 stock on TipRanks’ Stock Analysis page.
