Jilin Yatai acquires 2 Liaoning companies for 243M yuan

Byswb

Updated Wed, 16 Mar 2011 00:00:00 GMT

Jilin Yatai Group's (600881) two wholly controlled subsidiaries acquired stakes in two concrete companies for 87.75 million and 155 million yuan, reports Shanghai Securities News, citing a company filing.

Liaoning Xingrongchang Metro Segments, with a registered capital of 30 million yuan, makes concrete segments and components. Its total assets hit 119 million yuan as of September 2010. Yatai Group’s controlling subsidiary will buy 21 million shares of the company from an individual investor for 87.75 million yuan.

Liaoning Xingrongchang High Performance Concrete has registered capital of 30 million yuan and sells commercial concrete. As of September 2010, it had an appraised value of 132 million yuan. The controlling subsidiary will pay 155 million yuan in cash to acquire it.