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China Machinery Industry Group to submit a takeover offer to the German MAGGroup
    点击数:8767         日期:2014/4/4
State machine group for German machine tool manufacturer MAG
After Sany acquired Putzmeister, Shandong heavy industry and Commerce Kion group 1/4 stake, and a domestic machinery giant to the "made in Germany" to extend the olive branch. From the Reuters news show, Chinese machinery industry group (China Machine Group), has been officially to the German rival MAG Group submitted a bid.
Under the European debt crisis, German companies into hitherto unknown market difficulties, stimulate Chinese companies continue to accelerate the pace of hunters "made in Germany".
State machine group to buy MAG
Reuters reports, state machine group has been to the German machine tool manufacturer MAG Group submitted a bid. MAG spokesman confirmed that, the company is now with potential acquirers to negotiate, "is expected to be completed in the fourth quarter of the negotiations."
The media quoted sources as saying, Japan Komatsu manufacturing (Komatsu) and two Private Equity Investment Firm, also proposed acquisition of MAG's European operations, and another 7 companies bid for Meg's American operations.
Data shows, MAG annual revenue of about 1000000000 euro. Last year, the company's earnings before interest, taxes, depreciation and amortization of (EBITDA) for 105000000 euros. The company employs approximately 3500 employees around the world. MAG had been hired to assist to find a buyer, hope to more than 500000000 euros ($645000000) price of Sale of entire company, or at least 250000000 euros sale of European business.
After the news shows, the number of domestic enterprises had to purchase MAG's business, including the Shenyang machine tool, Dalian machine tool group, Qigihar two machine tool group etc..
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