# Grandland withdraws plan to buy Permasteelisa after US veto

Chinese construction firm Grandland Holdings has withdrawn its EUR467 million (USD527 million) plan to acquire Italian curtain wall builder Permasteelisa after failing to obtain approval from the US Committee on Foreign Investment. The deal was announced in August 2017.

- Type: Acquisition
- Announced: 2018-11-26
- Where: Italy
- Value: $527.0M (467.0M EUR)
- Status: cancelled
- Products: curtain walls
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [LIXIL Group](https://endata.com/companies/6463.md) (partner)
- [Permasteelisa](https://endata.com/companies/6464.md) (target)
- [Grandland Holdings Group](https://endata.com/companies/26463.md) (acquirer)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/grandland-pulls-plans-to-buy-italian-curtain-wall-builder-after-us-veto), 2018-11-29: "Grandland's listed arm Shenzhen Grandland Group said in a statement on Nov. 26, citing a veto from the US Committee on Foreign Investment as the reason behind the move."

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