# Neway Valve cancels EUR 11.3M acquisition of Econosto

Neway Valve called off its planned EUR 11.3 million takeover of Germany's Econosto International Holding due to Covid-19 market changes, and will pay EUR 500,000 in compensation.

- Type: Acquisition
- Announced: 2020-09-16
- Where: Sachsen, Germany
- Value: $13.4M (11.3M EUR)
- Status: cancelled
- Products: valve assembly, testing and maintenance services, flow control products
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Neway Valve](https://endata.com/companies/769.md) (acquirer)
- [Econosto International Holding](https://endata.com/companies/5877.md) (target)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/china-neway-valve-calls-off-usd134-million-acquisition-of-germany-econosto), 2020-09-16: "Neway Valve has aborted its planned EUR11.3 million (USD13.4 million) take-over of Germany's Econosto International Holding."
- [devel.btimesonline.com](https://devel.btimesonline.com/articles/139058/20200917/china-briefing-chinese-valve-maker-lets-steam-acquisitions-shanghai-shoots.htm), 2020-09-17: "Neway Valve said this week it will withdraw its acquisition deal with Germany's Econosto International Holding."

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