Deals
Zoomlion Offers to Buy Remaining CIFA Stake From Goldman, Funds
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Zoomlion Heavy Industry Science and Technology Co., China’s second-biggest construction equipment maker by market value, offered $236 million to buy the remaining 41 percent stake in a unit from Goldman Sachs Group Inc. and other investors.
Zoomlion will fund the purchase with its own cash, the company said in a statement to the Shenzhen stock exchange today. The unit, Zoomlion CIFA (H.K) Holdings Co., was formed after the Chinese equipment maker and investors including Goldman acquired Compagnia Italiana Forme Acciaio SpA, known as CIFA, in 2008.