China National Building Material Group’s HK$136 million acquisition of 8.64% interest in China Glass Holdings

Slaughter and May, Hong Kong, has advised Triumph Technology, a wholly-owned subsidiary of China National Building Material Group Corporation (CNBM Group), on its acquisition of a further 8.64% interest in China Glass from Pilkington Group Limited for a consideration of approximately HK$136 million (US$17.52 million).

As a result of the acquisition, Triumph Technology holds approximately 23.01% of the issued share capital of China Glass and has become China Glass’ largest shareholder.

CNBM Group is one of China’s largest manufacturers of building materials, including cement, lightweight building materials, fibre glass and composite materials.

China Glass is a leading manufacturer of float glass and reflective glass.

Slaughter and May has acted on the deal with a Corporate team led by Benita Yu (partner, in picture), alongside James Feng (associate).

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Author: Michael Patrini