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Overview

China Eximbank provides loan to Zoomlion for acquisition of m-tec mathis technik GmbH

Commitments (Constant USD, 2023)$33,335,571
Commitment Year•2014Country of Activity•GermanyDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 27, 2014
Start (actual)
Apr 2, 2014
End (actual)
Apr 2, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

  • Zoomlion Heavy Industry Science and Technology Co., Ltd.

Loan description

China Eximbank provides loan to Zoomlion for acquisition of m-tec mathis technik GmbH

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 30, 2013, Zoomlion Heavy Industry Science and Technology Co., Ltd. — a Chinese machinery manufacturer — announced its intention to acquire m-tec mathis technik GmbH and its subsidiaries (collectively “m-tec Group”). Zoomlion secured an mergers & acquisition loan from China Eximbank to facilitate the acquisition on or around January 27, 2014. Then, on April 22, 2014, Zoomlion completed the acquisition of m-tec Group with a cash consideration of €35 million EUR (equivalent to RMB 296 million).

Staff comments

1. The Chinese project title is 中联重科收购德国M—TEC公司等项目. 2. The face value of the China Eximbank loan is unknown. However, given that the total cost of the acquisition was €35 million EUR and most China Eximbank M&A (overseas investment) loans cover at least 70% of the total cost of the acquisition, AidData assumes for the time being that the face value of the China Eximbank loan was roughly equivalent to €24.5 million EUR. This issue warrants further investigation. See slide 13 of https://www.dropbox.com/scl/fi/l59pewju61dhll79k8msy/2.EXIM-Bank.pptx?rlkey=4ffouewoknm33jnz3dykii2i4&dl=0 for more information on the standard terms and conditions that govern M&A (overseas investment) loans from China Eximbank. 3. m-tec mathis technik GmbH is best known for its innovative solutions for manufacturing, logistics and processing of pre-mixed construction materials as well as fine-grained bulk materials.