22 March 2019

China State Construction Engg buying a US firm, WSJ says

China State Construction Engineering Corp., the country’s largest construction firm by revenue, is making its first acquisition in the US market through its American subsidiary, the Wall Street Journal reported. China Construction America, the US subsidiary, on Wednesday agreed to acquire Manhattan-based Plaza Construction for an undisclosed sum, the report said. The deal still needs the approval by the Committee on Foreign Investment in the US. The Chinese firm said the deal marks “a significant step” in the group’s international expansion.

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