Chinese firms eye German industrial major FFT in deal likely to cross $700m

Chinese firms eye German industrial major FFT in deal likely to cross $700m

REUTERS/Thomas White/Illustration

Chinese firms including high-end equipment maker Jiangsu Hagong Intelligent Robot Co plan to bid for German industrial company FFT, likely to be valued at up to $712 million, two people familiar with the matter said.

China’s state-owned power company Shanghai Electric and Asian-European private equity firm AGIC Capital had also expressed interest earlier in the process, being managed by Morgan Stanley as FFT‘s financial adviser, the people said.

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