# RIFA Precision Machinery to acquire 24.5% stake in RIFA Machine Tool

RIFA Precision Machinery (002520.SZ) has announced a plan to acquire a 24.5176% stake in Zhejiang RIFA Precision Machine Tool Co., Ltd. from the National Manufacturing Transformation and Upgrading Fund for CNY 336.58 million, paid via share issuance. The deal will increase RIFA Precision's ownership to 100%.

- Type: Acquisition
- Announced: 2023-04-28
- Where: China
- Value: $48.7M (336.6M CNY)
- Status: announced
- Products: CNC machine tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Rifa Precision Machinery](https://endata.com/companies/18688.md) (acquirer)
- [National Manufacturing Transformation and Upgrading Fund](https://endata.com/companies/58534.md) (target)
- [Zhejiang RIFA Precision Machine Tool](https://endata.com/companies/70021.md) (target)

## Sources

- [finance.ce.cn](http://finance.ce.cn/stock/gsgdbd/202304/28/t20230428_38525377.shtml), 2023-04-28: "通过本次交易，上市公司可加强对日发机床的控制力，聚焦数控机床领域，进一步强化上市公司的核心竞争力。"

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