Henry Cai's AGIC makes first investment

The veteran dealmaker tells FinanceAsia local expertise is key after his fund agrees to jointly buy German machinery maker KraussMaffei for $1 billion.
(Left to right) Ting Cai, chairman and CEO of China National Chemical Equipment, Frank Stieler, CEO of KraussMaffei Gruppe and Chen Junwei, CEO of ChemChina Finance.
(Left to right) Ting Cai, chairman and CEO of China National Chemical Equipment, Frank Stieler, CEO of KraussMaffei Gruppe and Chen Junwei, CEO of ChemChina Finance.

Working with local partners will help Chinese firms to make acquisitions in Germany more effectively, according to top China dealmaker Henry Cai, after his new investment fund teamed up with two state-owned enterprises to buy a leading German machinery maker for $1 billion.

China National Chemical Corp, better known as ChemChina, and linked up with Cai’s fund and Guoxin International Investment Corp. on Monday to seal a deal to acquire the KraussMaffei Group. The 178-year old German firm makes machinery for processing plastic and rubber, from carbon-fibre-reinforced components on BMW electric cars to insulating layers in Whirlpool refrigerators.

The Chinese consortium is buying...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222