# PALFINGER and SANY agree to reverse cross-shareholding and restructure joint ventures

PALFINGER AG and SANY HEAVY INDUSTRIES signed an agreement to reverse their cross-shareholding. PALFINGER ASIA PACIFIC will transfer its 7.5% stake in Sany Automobile Hoisting Machinery to SANY EUROPE in exchange for 2,826,516 PALFINGER shares and approximately EUR 15 million cash. Additionally, the operational joint venture Palfinger Sany Mobile Cranes Sales GmbH will be taken over by the SANY Group.

- Type: Acquisition
- Announced: 2021-12-14
- Where: Austria
- Value: $17.0M (15.0M EUR)
- Status: announced
- Products: mobile cranes, construction machinery
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Palfinger](https://endata.com/companies/17648.md)
- [SANY Heavy Industries](https://endata.com/companies/51621.md) (partner)
- [Sany Automobile Hoisting Machinery](https://endata.com/companies/51622.md) (target)
- [Palfinger Sany Mobile Cranes Sales GmbH](https://endata.com/companies/59685.md) (target)

## Sources

- [palfinger.com](https://www.palfinger.com/worldwide/en/insights-news-and-events/news/2021/eans-adhoc--palfinger-ag---palfinger-and-sany-signed-an-agreemen.html), 2021-12-14: "PALFINGER and SANY HEAVY INDUSTRIES have also negotiated a restructuring of their cooperation in the operational joint ventures."

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