Sinotruk links up with MAN

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    Sinotruk (Hong Kong) has agreed a co-operation project with MAN, a large German industrial group. The transaction involved an equity deal and a technology…

    Sinotruk (Hong Kong) has agreed a co-operation project with MAN, a large German industrial group. The transaction involved an equity deal and a technology licensing arrangement.

    Sinotruk is one of the largest manufacturers of heavy trucks in China. After the deal is completed, MAN will own 25% plus one share of its capital through the purchase of existing shares from the controlling shareholder and the subscription of notes issued by, and convertible into shares of, Sinotruk (Hong Kong). A licensing arrangement will also allow Sinotruk to obtain heavy truck technologies from MAN. The total value of the deal was €645 million (US$965 million), with the equity accounting for €560 million and the technology €85 million.

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