KraussMaffei (600579.SH) announced on November 29th that the company and its related shareholders Equip-Hong Kong are planning significant assets restructuring, intending to convert Equip-Hong Kong's debt to the company's wholly-owned subsidiary Equip Luxembourg into equity. After this transaction is completed, the company will no longer have controlling rights over Equip Luxembourg.
Since the publication of the "Notice Regarding the Planned Significant Assets Restructuring and Related Party Transactions", the company and all relevant parties have been actively advancing the overall progress of this transaction. As of the date of this announcement, the auditing, evaluation, and other works related to this transaction have been basically completed, and have passed the foreign investment review of the Federal Ministry of Economic Affairs and Climate Action of Germany. The company is going through the approval procedures of relevant regulatory authorities. After further refining the related matters of this transaction, the company will promptly submit the transaction to the board of directors for review and public disclosure.
