Overview

China Merchants Bank provides a EUR 106 million loan to Truking Group to facilitate its acquisition of a 75.1% equity stake in Romaco Group from Deutsche Beteiligungs AG (DBAG)

Commitments (Constant USD, 2023)$127,202,006

Commitment Year•2017Country 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: Jun 27, 2017

Start (actual): Jun 27, 2017

End (actual): Jun 27, 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 Merchants Bank Co., Ltd.

Receiving agencies

Private Sector

Truking Technology Limited

Loan description

China Merchants Bank provides a EUR 106 million loan to Truking Group to facilitate its acquisition of a 75.1% equity stake in Romaco Group from Deutsche Beteiligungs AG (DBAG)

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 27, 2017, a European subsidiary of Truking Group signed an EUR 106 million loan agreement with China Merchants Bank to facilitate its acquisition of a 75.1% equity stake in Romaco Group from Deutsche Beteiligungs AG (DBAG). The loan carried a maturity of 5 years. The acquisition was completed on June 30, 2017.Truking Group and China Merchants Bank signed a share pledge agreement (No. 92ZY170040) on June 26, 2017. Under the terms of the agreement, Truking Group pledged its 75.1% equity stake in China Merchants Bank as a source of collateral for the loan.

Staff comments

1. Romaco Group is a leading global supplier of processing and packaging equipment, predominantly for the pharmaceutical industry that is based in Germany. 2. Truking Group was founded in 2000. The company manufactures machines and lines for the pharmaceutical and chemical industries, including packaging machines. Truking Group employs a workforce of 2,600 in China.