Slaughter and May, Hong Kong, is advising China National Building Material Group Corporation (CNBM) in relation to its subscription (through its wholly-owned subsidiary) for new ordinary shares in China Glass Holdings Limited (China Glass) for a total consideration of HK$244 million (US$31.5 million). The transaction will give CNBM a 14.36% interest in China Glass. The shares will be issued pursuant to the general mandate granted by the shareholders of China Glass at its last Annual General Meeting.

CNBM is a PRC state-owned company engaged in the business of building materials in the PRC, and a controlling shareholder of China National Building Material Company Limited, a company listed in Hong Kong with significant operations in cement, lightweight building materials, glass fibre and composite materials, and engineering services business segments.

China Glass is one of the PRC’s leading manufacturers of flat glass and specialises in the research, development, manufacturing and selling of a variety of building coated glass, energy-efficient and environmentally-friendly glass and new-energy products. China Glass is also listed on the Hong Kong Stock Exchange.

CONTACTS

Corporate: Benita Yu (partner), Carmen Lau (associate), Vincent Chan (associate).