# Northern Heavy Industries to acquire 0.1% stake in Northern Mining for control

Northern Heavy Industries (Northern Shares) announced it will buy a 0.1% stake in joint venture Northern Mining from Bucyrus Mining China LLC for about 157,800 yuan, increasing its ownership to 50.1% and gaining control. The remaining 49.9% will be sold to Beijing Baolizhixing Technology.

- Type: Acquisition
- Announced: 2020-08-24
- Where: China
- Value: $22800.00 (158K CNY)
- Status: announced
- Products: electric-wheel mining trucks
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Northern Heavy Industries Group](https://endata.com/companies/24542.md) (acquirer)
- [Bucyrus Mining China LLC](https://endata.com/companies/34376.md) (partner)
- [Northern Mining](https://endata.com/companies/49407.md) (target)
- [Beijing Baolizhixing Technology](https://endata.com/companies/49408.md) (partner)

## Sources

- [cls.cn](https://www.cls.cn/detail/565506), 2020-08-24: "为了取得北方采矿的控制权，公司拟购买其中0.1%的股权，按照评估价值作价约为15.78万元。"

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