# Zhengzhou Coal Mining Machinery consortium acquires 43.33% stake in Luoyang LYC Bearing for 1.007 billion yuan

A consortium led by Zhengzhou Coal Mining Machinery (Zhengmei) and including AVIC Industry Investment acquired a 43.33% stake in Luoyang LYC Bearing Co., Ltd. for 1.007 billion yuan (approx. 10.07 billion yuan) on August 11, 2022. Zhengmei's share is about 16.67% with an investment not exceeding 400 million yuan.

- Type: Acquisition
- Announced: 2022-08-11
- Where: Luoyang, Henan, China
- Value: $149.0M (1.01B CNY)
- Status: completed
- Products: bearings
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Zhengzhou Coal Mining Machinery](https://endata.com/companies/6905.md)
- [AVIC Industry Investment](https://endata.com/companies/64684.md) (partner)
- [Luoyang LYC Bearing](https://endata.com/companies/64685.md) (target)
- [Luoyang Guohong Investment Holding Group](https://endata.com/companies/64686.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/769825.html), 2022-08-11: "联合体与洛阳国宏投资控股集团有限公司签署了《产权交易合同》，约定转让方将洛轴公司43.33%股权以合计10.07亿元的价格转让给联合体。"

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