PRC cement businesses now jointly controlled

    January 12, 2011 | BY

    clpstaff &clp articles

    China Resources Cement Holdings (CRCH) has acquired a 50% interest in Yue Xiu Enterprises' (YXE) businesses for HK$1.24 billion (US$159 million). YXE…

    China Resources Cement Holdings (CRCH) has acquired a 50% interest in Yue Xiu Enterprises' (YXE) businesses for HK$1.24 billion (US$159 million).

    YXE owned several companies that clinker, cement and concrete operations in Guangzhou and Hong Kong. The target companies have now become jointly controlled entities and will be operated by CRCH together with a subsidiary of a multinational company.

    A Hong Kong-based Mayer Brown JSM team led by Hannah Ha advised the acquirer. The seller was represented by Jones Day.

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