China National Materials (HKG:1893) (Sinoma) has agreed to acquire a 22.87% equity interest of Sinoma Changde and a 24.85% equity interest of Sinoma Xiangtan at a total consideration of RMB81.23 million (approximately $92.464 million). After the acquisitions, Sinoma Changde and Sinoma Xiangtan will become wholly owned by Sinoma.
Sinoma Changde and Sinoma Xiangtan are engaged in production and sales of cement and clinker.
