# Cargotec to acquire 49% stake in China Crane joint venture

Cargotec will acquire Carlyle Group's 49% stake in China Crane Investment Holdings and invest around EUR 30 million for a 49% stake in a joint venture with Jiangsu Rainbow Heavy Industries (RHI).

- Type: Acquisition
- Announced: 2023-11-08
- Where: China
- Value: $43.0M (30.0M EUR)
- Status: announced
- Products: cargo-handling machinery
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Carlyle Group](https://endata.com/companies/458.md) (partner)
- [Cargotec](https://endata.com/companies/1832.md) (acquirer)
- [Jiangsu Rainbow Heavy Industries](https://endata.com/companies/22581.md) (partner)
- [China Crane Investment Holdings](https://endata.com/companies/73407.md) (target)

## Sources

- [avcj.com](https://www.avcj.com/avcj/news/49649/cargotec-set-to-buy-carlyle-s-stake-in-china-crane), 2023-11-08: "Cargotec will invest around EUR30 million ($43 million) for a 49% in the joint venture with the Chinese firm."

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