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Jinan Acetate Chemical to Acquire 42% Stake in Cerdia Parent

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Jinan Acetate Chemical (TPE:4763) will acquire a 42% stake in the parent company of Cerdia, a Switzerland-based producer of acetate filter tow and acetate flakes, according to a Monday filing with the Taiwan Exchange.

The chemical manufacturer will pay around $214 million in cash and issue 109.3 million common shares to acquire 84 common shares of BCP VII Jade HoldCo (Cayman).

Jinan Acetate said the acquisition will allow it to leverage Cerdia's international sales network and roster of global brand customers to accelerate its push into high-end markets.

What else is happening in Asia?

Asia

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TYO:9984
Asia

Shenzhen Transsion's Hong Kong Listing Application Under Review; Shares Up 4%

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SHA:688036
Asia

China Approves Shanghai Rural Commercial Bank's Absorption of Peer

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SHA:601825