Zoomlion Heavy Industry (HKG:1157) will acquire a 45% stake in one of its former subsidiaries for 904 million yuan in cash, the company disclosed in a Wednesday filing to the Hong Kong Exchange.
The stake is currently held by a firm majority-owned by the Hunan provincial government and a significant shareholder in Zoomlion.
This acquisition will increase Zoomlion's ownership in the finance leasing and insurance unit from 19% to 64%, regaining majority control. The purchase price is based on an independent appraisal and will be funded from the company's internal resources.
Zoomlion fully owned the unit until mid-2021, when it sold the stakes to the current owners.
The company said the deal will help better integrate its equipment and financial services, improve digital business management, and reduce related-party transactions. The unit mainly leases Zoomlion's tower cranes.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。