Date
21 July 2018

Sany Heavy in deal for Austrian lifting gear firm, SCMP says

Sany Heavy Industry, China’s largest listed construction machinery maker, plans to pay €108 million (US$175 billion) for 10 per cent of Austrian firm Palfinger, the South China Morning Post reported Thursday. The deal, under a memorandum of understanding signed this week, will also involve Palfinger investing €110 million for a 10 per cent stake in Sany’s two lifting machinery subsidiaries, Sany said Wednesday. The final contracts will require the approval of Chinese regulatory authorities, the report said.

– Contact HKEJ [email protected]

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