Domestic firm buys CPG

China Architecture Design & Research Group (CAG), a State-owned architecture and design institute, announced yesterday it had completed a deal to acquire CPG Corp, a Singapore-based architectural design company, sina.com reported yesterday.

CAG spent A$147 million ($143 million) to purchase a 100 percent stake in CPG from Australian-based engineering giant Downer EDI, which acquired CPG in 2003.