XCMG receives regulatory approval for $5.9B merger with XCMG Construction Machinery

Xuzhou Construction Machinery Group (XCMG) received approval from the China Securities Regulatory Commission to issue shares to acquire and merge with XCMG Construction Machinery Co., Ltd. at a price of 38.686 billion Yuan (approx. USD 5.9 billion). The transaction will inject assets including excavation machinery, concrete machinery, mining machinery, and tower cranes into the listed company.

“The approval of the overall listing by the China Securities Regulatory Commission marks the substantial success of the reorganization.”xcmgmachinery.com

• 2 sources
• xcmgmachinery.comacquisition,July 09, 2022May 6, 2022
• beta.zhitongcaijing.com徐工机械(000425.SZ)吸收合并徐工集团工程机械有限公司事项将于5月27日上会May 23, 2022

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