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Chinese-Led Group Bids For Khd Humboldt Wedag International AG-Reuters


Friday, 11 Oct 2013 08:46am EDT 

Reuters reported that a Chinese-led consortium has offered to buy KHD Humboldt Wedag International AG in a deal valuing the German cement plant services firm at about $433 million. State-owned Chinese aerospace and defence company AVIC Internationalsaid on October 11, 2013 it would, together with Singapore-based takeover lawyer Yap Lian Seng, bid EUR6.45 a share for KHD. KHD was not immediately available to comment on the bid, which values its equity at about EUR320 million ($433 million). Through its subsidiary Max Glory Industries, AVIC already owns 20% of KHD. 

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