Anhui Conch Cement (HKG:0914, SHA:600585) agreed to acquire Anhui Conch Construction Materials Design Institute from Anhui Conch Holdings for 561.6 million yuan, according to a Wednesday Hong Kong bourse filing.
The target company engages mainly in design service provision for the building material industry, as well as cement technology development.
The company believes the acquisition will boost the market competitiveness of its engineering services segment.
Conch Holdings is a controlling shareholder of Anhui Conch Cement.
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