Summary by Moomoo AI
CNBM announced that its subsidiary, China National Building Materials Cement, signed a share purchase agreement with Votorantim Cimentos on July 26, 2024, agreeing to acquire all shares of the target company located in Tunisia. The total consideration for the transaction is approximately US $130 million, which may be adjusted based on the terms of the agreement, but the increase in the total amount will not exceed US $15 million. After the completion of the acquisition, the target company and its subsidiary GJO will become indirect subsidiaries of CNBM. According to the listing rules, this transaction is a disclosed transaction. The target company has a long history of operation and stable operation, and its geographical location is superior. This acquisition is in line with CNBM's strategic development plan and is expected to accelerate the group's international layout. The completion of the transaction will help the group expand its market share in countries along the "Belt and Road" and bring synergies to existing businesses.
