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Beijing Oriental Yuhong Waterproof Technology to Purchase Two Indonesian Companies

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Beijing Oriental Yuhong Waterproof Technology (SHE:002271) subsidiary Oriental Yuhong Indonesia will purchase a 55% stake in two Indonesian building material companies for 1.426 trillion Indonesian rupiah, according to a Saturday filing with the Shenzhen bourse.

Oriental Yuhong Indonesia will inject capital to purchase 14.47%, or 3 million newly issued shares, and 40.53% of existing shares in Inter Aneka Lestari Kimia or PTIALK from sellers Unichem Indomulia and Herman Moeliana for 859.5 billion rupiahs.

Yuhong's Indonesian arm will then purchase a 55% stake in Adhi Cakra Utama Mulia, which sells PTIALK's products, for 259.9 billion rupiahs.

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