AVIC leads bid for German cement plant builder KHD

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Germany: AVIC International Beijing Company (AVIC) has lead an offer to buy KHD Humboldt Wedag International AG in a deal worth US$433m. It hopes to acquire all of the remaining KHD shares by way of a voluntary public takeover offer.

At the same time it has entered into share purchase agreements with numerous sellers to purchase 19.03% of shares in the German cement plant builder. Through its subsidiary, Max Glory Industries, AVIC already owns 20% of KHD, which will bring its total to 39.03%.

"This is a long-term investment for us. A more stable shareholder base will benefit KHD's worldwide employees, customers, suppliers and financing partners and KHD will continue providing environmental friendly and state-of-the-arts products and services," said Mr Diao, president of AVIC Beijing Company.

Last modified on 16 October 2013

URL: https://globalcement.com/news/item/2006-avic-leads-bid-for-german-cement-plant-builder-khd

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