In a very significant industry move, Robert Bosch’s generators and starters business, SG Holding (SGH) is being bought through a cooperative effort between Zhengzhou Coal Mining Machinery Group Co Ltd (ZJM) and the private equity firm China Renaissance Capital Investment (CRCI) In total, the sale is said to be for 545 million euros ($595 million).
In a recent statement to the Hong Kong Stock Exchange, ZJM, a leading manufacturer of coal mining machinery and automobile component parts, said it based the acquisition on the fact that it valued SGH’s research and technology skills and capabilities. The statement also indicated that it found its global sales organization based worldwide along with the Bosch customer base to be very superior.
China boasts the world’s largest market in the automobile business so the deal is expected to help SGH expand its presence and exposure in China.
According to ZJM, no more than 440 million euros will be provided through internal resources of ZJM and CRCI, while the rest would be funded through external bank financing.
CRCI is a manager of investment funding that is incorporated in the Cayman Islands and which invests in businesses that have their focus on greater China. As controller of SG Group (SGG), Robert Bosch is a multinational electronics and engineering and electronics corporation.
>> TELL US WHAT YOU NEED AND WE WILL CONNECT YOU WITH THE BEST SUPPLIERS <<