XCMG merges with XCMG Co. Ltd. in $5.7B deal

XCMG Machinery merged with its controlling shareholder XCMG Co. Ltd. in a 38.686 billion yuan ($5.7 billion) transaction, injecting assets including excavation, concrete, and mining machinery into the listed company.

“The largest acquisition and merger transaction in China's equipment manufacturing industry was recently approved by the China Securities Regulatory Commission.”equipmentworld.com

• 2 sources
• equipmentworld.comChinese manufacturer XCMG aims to climb up global market ladder | Equipment WorldRyan WhisnerJul 15, 2022
• tradeearthmovers.com.auXCMG shifts focus to construction - TradeEarthmoversCatherine Fitzpatrick, Jackson HaddadJul 26, 2022

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