# China General Technology Group becomes largest shareholder of Shenyang Machine Tool

China General Technology Group (Genertec) invested 18 billion yuan to acquire 29.99% of Shenyang Machine Tool Co., Ltd. (SMTCL) and 35 billion yuan for 57% of Shenyang Machine Tool Group, becoming the largest shareholder in both entities after their restructuring.

- Type: Acquisition
- Announced: 2019-11-16
- Where: Shenyang, Liaoning, China
- Value: $7.55B (53.0B CNY)
- Status: completed
- Products: machine tools, CNC systems
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [China General Technology (Group) Holding Co.](https://endata.com/companies/15005.md) (acquirer)
- [Shenyang Machine Tool Group](https://endata.com/companies/17056.md) (target)

## Sources

- [finance.sina.cn](https://finance.sina.cn/2019-11-18/detail-iihnzahi1750468.d.html?vt=4), 2019-11-18: "通用技术公司将投入18亿元，占重整后沈机股份29.99%的股份。"

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