ChemChina $1 billion acquisition of KraussMaffei Group

Overview:

• A consortium led by China National Chemical Corp (ChemChina) has acquired KraussMaffei Group from Canadian Onex Corporation for $1 billion.
• KraussMaffei is a German plastics and rubber processing machine manufacturer with 4,500 employees.
• The consortium also includes Guoxin International Investment Corp and private equity firm AGIC Capital.
• ChemChina has been particularly active in the European markets recently including a $43 billion bid for Syngenta and a $7.7 billion acquisition of Pirelli.
• The deal is the biggest acquisition by a Chinese company in Germany to date.
• Onex invested €276 million in the company in 2012.
• Barclays acted as financial adviser to Onex. Standard Chartered acted for ChemChina.

Rani Mehta - Journalist