Zhengzhou Yutong Group Co.,Ltd made a tender offer to acquire a 27.11% stake in Yutong Heavy Industries Co.,Ltd. for CNY 1.4 billion.
March 14, 2023
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Zhengzhou Yutong Group Co.,Ltd made a tender offer to acquire a 27.11% stake in Yutong Heavy Industries Co.,Ltd. (SHSE:600817) for CNY 1.4 billion on February 6, 2023. Under the terms, Zhengzhou Yutong will acquire 148.046 million shares at a price of CNY 9.17 per share in cash. The tender offer period will be from March 16 to April 14, 2023. Transaction has been approved by Zhengzhou Yutong Group's shareholders. As on March 10, 2023, the State Administration for Market Regulation issued “Decision on No Implementation of Further Review on Business Concentration Anti-monopoly,†deciding to do no further review on this transfer. The 13th session of the company’s 11th directorate was held on March 27, 2023 and approved the transaction.
Huatai United Securities Co., Ltd. acted as financial advisor and Commerce & Finance Law Offices acted as legal advisor to Zhengzhou Yutong Group.
Yutong Heavy Industries Co Ltd is a China-based company mainly engaged in the production of machinery and equipment. The Company operates through two segments. The Machinery Equipment segment is mainly engaged in the research and development, production and sales of sanitation equipment, products including sanitation cleaning equipment and garbage collection and transfer equipment; mining equipment, products including new energy mining vehicles and fuel mining vehicles; basic engineering machinery, products including rotary excavation drilling rigs, crawler cranes and bridge inspection vehicles. The Environmental Sanitation Services segment is mainly engaged in road cleaning, garbage collection and transportation, landscaping maintenance, municipal facilities management and maintenance, property services, garbage classification and renewable resources, public toilet management and other services. The Company mainly operates its businesses in the domestic and overseas markets.
YUTONG HEAVY INDUSTRIES CO.,LTD. 
