China Building Materials Glass Unit Takes over Luoyang Glass

Luoyang Glass Co., Ltd. December 8 stated in announcement that the glass business of China National Building Materials Group Corporation won a regulatory approval to gain its 159 million shares or a 31.8 percent stake and is exempted from a takeover bid.

China National Building Materials Group Corporation, the effective controller of Luoyang Glass Co., July 12 inked an agreement that it allowed China Luoyang Float Glass Group Co., Ltd. to transfer a 51.7 percent stake to its solely owned glass subsidiary. The Luoyang glass group holds 31.8 percent stake in Luoyang Glass Co.

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