The German Economy Ministry approved the takeover of German aerospace supplier Cotesa by Chinese company Advanced Technology and Materials (AT&M) for a price between EUR 100 million and EUR 200 million. The deal was signed in September 2017 and approved after a months-long investigation.
A new materials industry fund co-managed by QFAT Investment and ICP Integrity Capital Partners acquired a controlling stake in COTESA, a German manufacturer of fiber composite parts for aviation and automotive. Advanced Technology & Materials Co., Ltd. is the anchor investor.
ERASTEEL, a subsidiary of ERAMET, signed a memorandum of understanding to sell its 10.29% stake in Heye Special Steel Co., Ltd to AT&M for 109.5 million yuan (approx. €15 million). The transaction is expected to close in the second half of 2017.