Lafarge-Shui On secures 80% of Shuangma Cement

The $410 million transaction is the first example of a foreign investor increasing its stake in an A-share company via a restructuring.

The board of Sichuan Shuangma Cement has approved the acquisition of a 50% equity stake in Dujiangyan Cement. Shuangma will pay for the stake through the issuance of Rmb2.8 billion $410 million worth of new shares to Lafarge China Offshore Holding Company, which is the controlling shareholder of both the seller and the buyer.

The deal will be subject to approval of Shuangma's shareholders at an interim shareholders' meeting to be held later this month, as well as approval from...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...