China West Construction Group Co., Ltd completed the acquisition of 12.05% stake in China Construction Commercial Concrete Co., Ltd. and a 21.43% stake in China Construction West Construction Southwest Co., Ltd. from CCB Financial Asset Investment Co., Ltd.
February 20, 2023
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China West Construction Group Co., Ltd (SZSE:002302) intends to acquire a 12.05% stake in China Construction Commercial Concrete Co., Ltd. and a 21.43% stake in China Construction West Construction Southwest Co., Ltd. from CCB Financial Asset Investment Co., Ltd. for CNY 1.5 billion on December 6, 2022. This acquisition has been considered and approved at the 19th meeting of the seventh board of directors held by the China West Construction Group Co., Ltd. The transaction is subject to China West Construction Group Co., Ltd (SZSE:002302) shareholder approval. After transfer, the China West Construction Group Co., Ltd. will own a 100% stake in both target companies. For the year ended, August 31, 2022, China Construction Commercial Concrete and China Construction West Construction Southwest total asset is CNY 0.019625 million and net asset is CNY 0.00518 million.
China West Construction Group Co., Ltd (SZSE:002302) completed the acquisition of 12.05% stake in China Construction Commercial Concrete Co., Ltd. and a 21.43% stake in China Construction West Construction Southwest Co., Ltd. from CCB Financial Asset Investment Co., Ltd. on February 21, 2023.
China West Construction Group Co Ltd is a China-based company principally engaged in ready-mix concrete and related businesses. The Company focuses on ready-mixed concrete production and radiates cement, admixtures, commercial mortars, sand and gravel aggregates, logistics and transportation, technology research and development and services, testing, comprehensive utilization of resources, e-commerce and other businesses. The Company's main product, ready-mixed concrete, is a basic building material used in a wide range of buildings and structures. The Company's products are mainly sold in China's domestic market.
China West Construction Group Co., Ltd completed the acquisition of 12.05% stake in China Construction Commercial Concrete Co., Ltd. and a 21.43% stake in China Construction West Construction Southwest Co., Ltd. from CCB Financial Asset Investment Co., Ltd.
CHINA WEST CONSTRUCTION GROUP CO., LTD 
