# Chongqing Machinery & Electric acquires 49% stake in WGP for €720,000

Chongqing Machinery & Electric (02722.HK) agreed to acquire a 49% stake in WGP, an Italian company specializing in building and refurbishing hydropower stations, for a total consideration of approximately €720,000.

- Type: Acquisition
- Announced: 2016-11-04
- Where: Genoa, Italy, Italy
- Value: $792K (720K EUR)
- Status: announced
- Products: hydropower station construction and refurbishment
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Chongqing Machinery & Electric](https://endata.com/companies/16303.md) (acquirer)
- [WGP](https://endata.com/companies/16304.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/28992.html), 2016-11-04: "本次收购将推动重庆水轮积极拓展国际水电市场，稳定海外管道;促进重庆水轮实现制造及服务的转型升级，具有明显的协同效应。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.