ZOOMLION (01157) announced that the company has decided to pass a resolution regarding the total current...
According to the ZOOMLION (01157) announcement, the company has resolved to acquire the outstanding equity from the seller, Hunan Xingxiang Ruihang Private Equity Partnership (Limited Partnership) and Hunan Xingxiang Long Silver High-tech Industry Investment Partnership (Limited Partnership), for a total cash consideration of 50.7264 million yuan on December 30, 2024, which represents approximately 0.52% of the registered capital of the target company, Hunan ZOOMLION Asia Vets Aerial Work Machinery Co., Ltd.
The announcement states that the target company is a subsidiary of the company. This acquisition of minority interests in the target company will further consolidate the company's ownership and control over the target company, and is intended to improve the company's operation efficiency and streamline decision-making processes, which is expected to enhance the overall profitability of the group.