HX BLDG MAT (06655.HK) enters exclusivity pact to acquire CSN cement assets in Brazil, valued at BRL12.7bn

NewTimeSpace News: Huaxin Building Materials Group Co., Ltd. (HX BLDG MAT, 06655.HK) announced it plans to acquire the stake in CSN Cimentos Brasil S.A. held by Companhia Siderúrgica Nacional (CSN). After a competitive negotiation process, the company entered into an exclusivity agreement with CSN on 30 October 2026, under which CSN granted the company exclusive negotiation rights for a specified period.

The company held the 26th meeting of its 11th board of directors on 31 July 2026 to approve a binding offer. The exclusivity period is 10 days from the signing date, and the target company's enterprise value is set at BRL12.7 billion (about RMB15.87 billion). The two parties plan to reach agreement on final transaction documents in the coming days.

The company stated the transaction does not constitute a connected transaction. The potential acquisition still requires signing a formal share transfer agreement and obtaining overseas investment filing or approval from the NDRC, the Ministry of Commerce and the foreign exchange authority, as well as approval from Brazilian regulators including antitrust review. The deal is subject to negotiation and currency risks and may not proceed.