Zoomlion to acquire 81% stake in investee

Changsha Zoomlion Heavy Industry Science and Technology Co., Ltd. (HKEX:1157) announced its intention to acquire an 81% stake in a target company for no less than RMB1,627,290,200. The acquisition involves purchasing Sale Interest A (45%) and Sale Interest B (36%) from existing sellers. As of this announcement, Zoomlion already holds a 19% interest in the Target. If successful, the acquisitions will result in Zoomlion holding 100% ownership, leading to consolidation of the Target's financial results into Zoomlion's statements. The opening bid prices for Sale Interest A and Sale Interest B are RMB904,050,100 and RMB723,240,100, respectively. The company plans to finance the purchase using its internal resources. Completion of the transaction is subject to regulatory approval.