Huaxin Cement Co., Ltd. Class H (HK:6655) has released an update.
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Huaxin Cement Co., Ltd. has announced a significant acquisition, where a wholly owned subsidiary will purchase 100% of Target Company A and 40% of Target Company B for an estimated USD 186.6 million. Upon completion, both companies will become wholly-owned subsidiaries of Huaxin, allowing for consolidation of financial results. This strategic move is set to enhance Huaxin’s market position, although completion is subject to fulfillment of certain conditions.
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