China National Building Materials Acquires a Minority Interest in SINGULUS TECHNOLOGIES
52
0
Kahl am Main – China National Building Materials, Beijing (CNBM), has informed SINGULUS TECHNOLOGIES AG that it has acquired a minority interest of around 1.5 million shares (around 16.8%) of the current 8.9 million issued shares from external shareholders. It is reported that the corresponding legally binding purchase agreements have been signed. A transfer of ownership of the shares to CNBM (closing) is to take place in the near future, once certain conditions precedent have been fulfilled. For example, the acquisition of the shares remains to be approved by Chinese government agencies and the relevant competition authorities.
It is expected that the approvals will be granted over the coming months.
Source: singulus
