Zoomlion Heavy Industry Science and Technology (HKG:1157, SHE:000157) plans to acquire the remaining 81% stake it does not already own in Zoomlion Finance and Leasing (Beijing) for at least 1.63 billion yuan, a Tuesday Hong Kong bourse filing said.

The potential acquisition will be conducted through a public tender, as the sellers, Hunan Xingxiang Investment Holding Group and Hunan Dice Venture Capital, are both state-owned, the filing said.

The transaction is expected to enhance the competitiveness of Zoomlion's products and services, improve its business management model, and reduce related party transactions.