# China Oriental Group to acquire 15% stake in power equipment maker Huitong

China Oriental Group announced that its subsidiary Jinxi Steel will acquire a 15% stake in Huitong, a power transmission equipment company, for RMB 639 million. After the acquisition, Jinxi Steel will hold about 30% of Huitong's shares and become the largest single shareholder.

- Type: Acquisition
- Announced: 2020-06-07
- Where: China
- Value: $9.03M (63.9M CNY)
- Status: announced
- Products: power transmission equipment
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [China Oriental Group](https://endata.com/companies/21259.md)
- [Jinxi Steel](https://endata.com/companies/47725.md)
- [Huitong](https://endata.com/companies/47726.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/307812.html), 2020-06-07: "于该收购完成后，津西钢铁将直接及间接合计持有汇金通已发行股份约30%，并成为汇金通的单一最大股东。"

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