The hottest NetEase Finance Putzmeister will donat

Easy Finance: Putzmeister will independently operate the transaction proceeds and donate to the charity fund

easy Finance: Putzmeister will independently operate the transaction proceeds and donate to the charity fund

China Construction Machinery Information

Guide: easy finance January 31 news Sany Heavy Industry officially announced today that it will jointly purchase Putzmeister, a concrete machinery giant known as the German elephant. Sany calls it dragon and elephant dance. Sany Heavy Industry held a grand press conference in Changsha today, at which it announced its collection

Sany Heavy Industry held a grand press conference in Changsha today, at which the specific details of the acquisition were announced: its subsidiary Sany Germany Co., Ltd. will jointly acquire 100% equity of German construction machinery giant Putzmeister with CITIC fund, of which Sany Germany will acquire 90% and CITIC fund will acquire 10%. The contribution of Sany Germany is 324million euros (equivalent to 2.654 billion yuan)

Sany said that the transaction was expected to be completed by the end of the first quarter of 2012. This transaction still needs to be approved by relevant departments and meet certain transaction conditions

in this transaction, Bank of America Merrill Lynch acted as the exclusive financial adviser of Sany Heavy Industry, Sherman sterling and jingtiangong law firm acted as the legal adviser of Sany Heavy Industry, and Morgan Stanley acted as the exclusive financial adviser of Putzmeister. Sany also said that the entire transaction received professional guidance and strong support from CITIC Industrial Fund

Norbert scheuch, CEO of Putzmeister, said that Putzmeister will get more than the opportunity to enter the high growth market from this merger. After the merger, it will cover complete solutions and the whole value chain from mixing plants, mixing trucks and concrete pumps

after the completion of this transaction, aichtal, Germany, as the current headquarters of Putzmeister, will become the new headquarters of Sany overseas concrete machinery. Putzmeister will maintain a highly independent daily management and operate after it is completed and put into operation in 2022. Sany will mainly focus on the Chinese market, while Putzmeister will continue to be an independent high-end brand as shown in Figure 7. Norbert scheuch will remain the current CEO of Putzmeister in Sany and become the executive director of Sany

Liang Wengen, founder and chairman of Sany Heavy Industry, said that after the merger, the two sides will jointly create a new leader in the global concrete pump equipment industry. Putzmeister will remain an independent brand in Sany and have its own management team

both parties also said that all the proceeds of this transaction will be donated to Karl Schlecht foundation, which is owned by the founder and chairman of Putzmeister