Weichai Power buys $929 million stake in Germany's Kion

Weichai Power is acquiring 25% of the German industrial truck maker and a majority stake in a subsidiary, heralding the largest Chinese direct investment in Germany to date.

Weichai Power buys $929 million stake in Germany's Kion
Weichai Power’s chairman, Tan Xuguang, says the acquisition is an important step in the company’s five-year strategy to globalise (Imaginechina)

Weichai Power, an automotive and equipment manufacturing group in China, has agreed to invest 738 million $929 million for a stake in German industrial truck maker Kion Group, which is already backed by KKR and Goldman Sachs Capital Partners. The transaction is the largest Chinese direct investment in Germany to date and accelerates the Chinese company’s course to gain much-coveted Western industrial know-how and win a foothold in the global market.

Under the agreement, Weichai...

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