West China Cement sells Xinjiang assets for overseas focus

West China Cement Limited announced a major shift in its strategic focus, divesting its companies and assets in the Xinjiang Uygur Autonomous Region of the PRC. The disposals, structured as connected transactions, involve the sale of the entire equity interest in certain Target Companies and related assets for a total consideration of RMB1.65 billion, subject to adjustments. The company is selling to an independent third party, but also related parties via intergroup structure as well.