China National Chemical Corp., known as ChemChina, announced on January 11 that it will acquire KraussMaffei from Canadian private-equity firm Onex Corp, although the transaction is still subject to regulatory approval. If successful, the deal will rank as the biggest outbound investment from China into Germany, according to data provider Dealogic.
KraussMaffei makes equipment that processes plastics and rubber. The acquisition will be led by a consortium headed by ChemChina, but also includes private-equity firm AGIC Capital and Chinese state fund Guoxin International Investment Corp.
Despite of all the comments worldwide (including mine on China Daily), I still want to stress that "The future’s market shouldn’t have a specific nationality label. This applies to the events of American company, European companies, as well as Chinese companies. Any acquisitions occurred are in fact of events for market resource re-distribution and re-organization. It is a “metabolism process” for a global economy. I believe that in this process, discriminative cognitive attitude about Chinese rich capital trading off advanced Western technology “for some national purpose” should be abandoned. As long as Chinese companies target themselves as future global companies, their strategies and follow-up events (acquisition and integration process) should be designed for their specific global catch-up vision and aim to sustainably contributing to the global economy. To reach so, there are much more things to learn and practice, and externalize to fellow companies"