# Chongqing Machinery & Electric to acquire smart manufacturing and equipment research units from parent

Chongqing Machinery & Electric (02722) signed an agreement with its parent to acquire 100% of a smart manufacturing company and an equipment research institute, while transferring its stakes in Qichi Transmission and a small-loan company to the parent. The net consideration is RMB 169 million paid by the parent in cash.

- Type: Acquisition
- Announced: 2017-09-26
- Where: China
- Value: $25.6M (169.0M CNY)
- Status: announced
- Products: industrial robots, automation equipment, smart manufacturing systems, gear transmissions
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Chongqing Machinery & Electric](https://endata.com/companies/16303.md)
- [Chongqing Machinery & Electric Parent Company](https://endata.com/companies/17670.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/82731.html), 2017-09-26: "2017年9月26日，公司与母公司签订股权转让协议，据此，公司所持綦齿传动100%的股权、公司及附属公司合计持有小贷公司45%的股权全部转让给母公司。"

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