Working with local partners will help Chinese firms to make acquisitions in Germany more effectively, according to top China dealmaker Henry Cai, after his new investment fund teamed up with two state-owned enterprises to buy a leading German machinery maker for $1 billion.
China National Chemical Corp, better known as ChemChina, and linked up with Cai’s fund and Guoxin International Investment Corp. on Monday to seal a deal to acquire the KraussMaffei Group. The 178-year old German firm makes machinery for processing plastic and rubber, from carbon-fibre-reinforced components on BMW electric cars to insulating layers in Whirlpool refrigerators.
The Chinese consortium is buying...
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