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A group of Chinese investors including China National Chemical Corp (ChemChina) agreed yesterday to buy KraussMaffei Group GmbH for 925 million euros (US$1.01 billion), in the biggest-ever Chinese investment into Germany.
The group, which also included Guoxin International Investment Corp and private equity firm AGIC Capital, agreed to buy the plastics processing machinery maker from Canada’s Onex Corp, AGIC and Onex said in separate statements.
The amount surpassed the previous record for Chinese investment in Germany set in 2012 when construction firm Sany Heavy Industry Co bought concrete pump maker Putzmeister Holding GmbH for US$698 million, Thomson Reuters data showed.
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