Asia Cement completes Sichuan Lanfeng acquisition, China

Byrebecca3360

Updated Mon, 04 Aug 2014 15:44:05 GMT

Asia Cement (China) Holdings has completed the acquisition of a 100 per cent holding in Sichuan Lanfeng Cement at a consideration of CNY968m (US$156.7m) on July 30.

Sichuan Lanfeng becomes an indirect non-wholly-owned subsidiary of the company. The 100 per cent equity is held by Asian Cement unit Sichuan Yadong Cement.