Nine Dragons Paper (Holdings) Limited (ND Paper) is to take a controlling stake in the Chinese containerboard manufacturer Hebei Yongxin Paper. According to ND Paper, two of its subsidiaries have signed an agreement with two subsidiaries of Shanghai Industrial Holdings Limited to purchase a 78,13% equity interest in Hebei Yongxin for RMB564m ( €64,61m). Completion of the transaction is expected on 31 March this year.
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