November 10, 2010 / 3:55 AM / 9 years ago

Chongqing Machinery in talks to buy 3i's Hyva - FT

LONDON, Nov 10 (Reuters) - Chongqing Machinery & Electric Company (2722.HK) is set to hold talks this week about the potential acquisition of Dutch pump-maker Hyva for $830 million, the Financial Times said on Wednesday.

Chongqing Machinery could face opposition from competition authorities to buying Hyva, the FT said, citing an unnamed banker.

The Chinese state-controlled industrial group is listed on the Hong Kong stock exchange and is competing with several private equity bidders for Hyva, including Unitas Capital and Permira [PERM.UL], the FT said.

Credit Suisse is running the auction of Hyva, which is owned by UK-listed private equity group 3i (III.L).

3i could not immediately be reached for comment. (Reporting by Karolina Tagaris; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below