21 June 2019

Sany, Palfinger expand links via stake purchases, website says

Sany Heavy Industry Co., Ltd. (600031.CN) and Austrian crane maker Palfinger AG have agreed to expand their strategic partnership by buying a 10 percent stake in each other’s company, the Panorama Network reported Wednesday. Sany will buy 3.73 million new shares in Palfinger at €29 each for a total of €108 million (US$148.96 million) via a subsidiary, while Palfinger will buy a 10 percent stake in Sany for €110 million via offshoot Palfinger SLS Holding Pte Ltd., the report said.

– Contact HKEJ at [email protected]



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