# Harbin Electric to buy minority stakes in three subsidiaries for CNY 433 million

Harbin Electric (01133) signed an agreement with Huarong Company to purchase 10.37% of Electric Company, 5.22% of Boiler Company, and 26.96% of Turbine Company for a total of approximately CNY 433 million, increasing its ownership in each.

- Type: Acquisition
- Announced: 2019-11-28
- Where: China
- Value: $61.6M (433.0M CNY)
- Status: announced
- Products: generators, boilers, turbines
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Harbin Electric](https://endata.com/companies/3291.md) (acquirer)
- [Harbin Turbine Company](https://endata.com/companies/24948.md) (target)
- [Harbin Boiler Co.](https://endata.com/companies/38976.md) (target)
- [Huarong Company](https://endata.com/companies/43596.md) (partner)
- [Harbin Electric Machinery Company](https://endata.com/companies/43597.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/255879.html), 2019-11-29: "该公司与华融公司于2019年11月28日订立《股权转让协议》，华融公司同意将其持有的电机公司10.37%、锅炉公司5.22%及汽轮机公司26.96%股权转让给该公司"

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