Huaxin Cement to buy 99.99% of Brazil's second-largest cement maker
Briefing by News4U · First published
Sina Finance reported that Huaxin Cement announced on November 8 it will acquire 99.99% of CSN Cimentos Brasil for an estimated 9.034 billion Brazilian reais (about 10.955 billion yuan), a 34.41% premium to book value. The target is Brazil's second-largest cement producer with 17 million tons annual capacity. Huaxin Cement's shares closed at 27.46 yuan on November 6, giving it a 48.05 billion yuan market value. [1]
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Sina Finance · · Full text