Xinjiang Communications Construction Group (SHE:002941) is planning to acquire the remaining 49% stake in Xinjiang Infrastructure Construction for 30.0 million yuan, the construction engineering company said in a Friday filing with the Shenzhen bourse.
The deal to fully acquire Xinjiang Infrastructure Construction will further optimize and integrate industrial resources, expand the development of infrastructure business and boost profitability, the filing said.
Xinjiang Communications Construction Group shares were down 3% in recent trade.
Price (RMB): ¥11.30, Change: ¥-0.39, Percent Change: -3.34%
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