News agency, Reuters, has reported that a Chinese group has made a bid of around one billion Euros to buy KraussMaffei.
According to “people familiar with the matter”, the unidentified Chinese group is looking to secure a deal with KraussMaffei’s owner, Onex Corp., before Chinese New Year in early February 2016.
Onex bought KraussMaffei, a manufacturer of machinery for the injection moulding, extrusion and reaction process segments, in 2012 for 568 million Euros from US-based Madison Capital.
KraussMaffei and Onex Corp. have so far declined to comment on the reports.
Read more from Reuters here.