Loncin Motor Co., Ltd. (SHSE:603766) entered into an agreement to acquire 67% stake in C.M.D. Costruzioni Motori Diesel S.p.A from Mariano Negri and Giorgio Negri for €41.1 million on November 16, 2016. Under the terms of the transaction, Loncin Motor will acquire 6.8 million shares from Mariano Negri and Giorgio Negri for €25.8 million for 55% stake and will acquire 4.5 million new shares for €16.4 million for 27% stake of the post increased capital. Upon completion, Loncin Motor will hold 67% stake in C.M.D. Costruzioni Motori Diesel. C.M.D. Costruzioni Motori Diesel reported total assets of €76.89 million, net assets of €16.78 million, revenue of €31.37 million, and net profit of €1.94 million for the year ending December 31, 2015. The transaction needs to obtain filing record and relevant registration from the state’s relevant government departments and does not need shareholders’ approval of Loncin Motors. The transaction was approved by the Board of Directors of Loncin Motor. The closing of the transaction is expected in January 2017. Mario Amoroso of Gianni Origoni Grippo & Partners acted as a legal advisor to C.M.D. Costruzioni Motori Diesel. Massimo Trentino, Gianmarco Scialpi, Marco Contaldi, and Elena Sartini of McDermott, Will & Emery/Carnelutti Studio Legale Associato acted as a legal advisor to Loncin Motor. Loncin Motor Co., Ltd. (SHSE:603766) completed the acquisition of 67% stake in C.M.D. Costruzioni Motori Diesel S.p.A from Mariano Negri and Giorgio Negri on January 19, 2017.