Deals
Sany to Buy Pump Maker Putzmeister in Biggest China-German Deal
This article is for subscribers only.
Sany Heavy Industry Co., the construction-equipment maker run by China’s richest man, agreed to buy German concrete pump maker Putzmeister Holding GmbH in what they said is the largest Chinese-German transaction yet.
Sany and Chinese private equity company CITIC PE Advisors Ltd. will buy 100 percent of Putzmeister for an undisclosed price, according to an e-mailed statement today. Aichtal in Germany will become Sany’s new headquarter for concrete machinery and Norbert Scheuch will remain in his position as the head of Putzmeister under the Chinese owner.