Overview

China Everbright Bank provides a RMB 600 million loan to Shenyang Blue Silver Industry Automatic Equipment to facilitate its acquisition of Dürr Ecoclean

Commitments (Constant USD, 2023)$98,484,024

Commitment Year•2016Country 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: Aug 18, 2016

Start (actual): Mar 31, 2017

End (actual): Mar 31, 2017

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 Commercial Banks

China Everbright Bank

Receiving agencies

Private Sector

Shenyang Blue Silver Industry Automatic Equipment Co., Ltd.

Loan description

China Everbright Bank provides a RMB 600 million loan to Shenyang Blue Silver Industry Automatic Equipment to facilitate its acquisition of Dürr Ecoclean

Interest type•Unknown

Narrative

Full Description

Project narrative

On August 8, 2016, Shenyang Blue Silver Industry Automatic Equipment Co., Ltd. signed an agreement to acquire an 85% equity stake in Dürr Ecoclean—a global leader in surface processing systems for industrial parts headquartered in Frankfurt am Main in Germany—from Dürr Aktiengesellschaft for EUR 98.4 million ($134 million USD). On August 18, 2016, the Shenyang Branch of China Everbright Bank Co., Ltd. issued an RMB 600 million loan commitment letter to Shenyang Blue Silver Industry Automatic Equipment Co., Ltd. to facilitate its acquisition of Dürr Ecoclean. The acquisition was completed on March 31, 2017. Shenyang Blue Silver Industry Automatic Equipment used internal funds and the loan from China Everbright Bank first and then issued stock via private placement to prepay the bank loan.