Moody's: West China acquisition is positive

Moody's Investors Service said that West China Cement's acquisition of Fuping Cement is credit positive for West China as the transaction will be funded by equity and investments in West China by Italcementi.

West China announced its conditional acquisition of Fuping Cement through the issuing of 284.2 million new shares at HK$2.1815 each to Cimfra China, a wholly owned subsidiary of Ciments Francais, which is in turn a part of the Italcementi Group.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.