Shanghai Mechanical & Electrical Industry Company Limited (SHSE: 900925) completed the acquisition of Goss International from Shanghai Electric Corporation.
July 02, 2012 at 12:00 am EDT
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Shanghai Mechanical & Electrical Industry Company Limited (SHSE: 900925) signed equity transfer agreement to acquire Goss International from Shanghai Electric (Group) Corporation for approximately CNY 570 million on February 8, 2012. Consideration will be paid within three months after the agreement becomes effective. The consolidated total asset value of Goss International as of 30 September 2011 was CNY 3.062 billion. The deal is subject to regulatory approvals and board approval. The deal has been approved by Board of Directors of Shanghai Mechanical & Electrical Industry Company. Shanghai Dongzhou Assets Appraisal Co., Ltd acted as an independent valuer in the transaction. Lincoln International acted as financial advisor for Shanghai Electric (Group) Corporation.
Shanghai Mechanical & Electrical Industry Company Limited (SHSE: 900925) completed the acquisition of Goss International from Shanghai Electric (Group) Corporation on July 2, 2012.
Shanghai Mechanical & Electrical Industry Co., Ltd. is principally engaged in the manufacture and distribution of mechanical and electrical equipment. The Company provides lifts and escalators, printing and packaging machines, refrigeration and air conditioning equipment, welding equipment, engineering machineries, wood-based panel machineries, energy engineering, hydraulic and pneumatic products and electrical equipment. The Company distributes its products within domestic market and to overseas markets.
Shanghai Mechanical & Electrical Industry Company Limited (SHSE: 900925) completed the acquisition of Goss International from Shanghai Electric Corporation.
SHANGHAI MECHANICAL & ELECTRICAL INDUSTRY CO.,LTD. 
