Sany Heavy Industry Co, run by China’s richest man, and a partner is planning to pay 360 mn euros ($472 million) for concrete-pump maker Putzmeister Holding GmbH to add technology and expand overseas, according to reports.
Reports stated that Chinese construction-equipment maker will buy 90% of Putzmeister for 324 million euros and Citic PE Advisors (Hong Kong) Ltd. will purchase the balance