With a total of CNY 842 million (€118.80 million/US$132.46 million), 100% equity interest in Henan Yongan Cement (Yongan Cement) will be sold to China Tianrui Group Cement (Tianrui Cement) by China-based Tianrui Group.
The acquisition will be settled via the issuance of 520 million shares in Tianrui Cement to Tianrui Group.
Once the deal is completed, Tianrui Group's shareholdings in Tianrui Cement will rise to 73.93% from current 68.28%.
The price of a share to be issued is set at CNY 1.95.
