XCMC sale

October 2006
International Construction;Oct2006, Vol. 45 Issue 8, p10
Trade Publication
The article reports on the expected decrease in the stake portion that U.S.-based Carlyle Group will acquire from Xugong Group Construction Machinery Co. (XCMC) in China, due to its move in obtaining regulatory agreement. The Chinese government blocked the completion of the deal because of its opposition to foreign investors in acquiring the major state assets. Carlyle is anticipated to decrease the planned 85 percent share purchased of XCMC to 50 percent or less.


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