A group of Chinese investors has struck the country’s biggest single investment in a German company, agreeing to buy the Munich-based engineering specialist, KraussMaffei Group, in a €925m deal.
The Chinese consortium, which includes China National Chemical Corporation, Guoxin International Investment Corporation and AGIC Capital, will buy the German group from Onex Corporation, a Canadian private equity firm, and its affiliates.
Onex said it had made a $276m investment in KraussMaffei in 2012, and that it expected to receive “proceeds of approximately €670m” when the deal completed.
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