ChemChina-led group buys Onex's KraussMaffei for $1 bln in record deal: Reuters

The biggest-ever Chinese acquisition of a German company was announced on Monday, with a consortium led by state-owned China National Chemical Corp buying industrial machinery maker KraussMaffei Group for about US$1 billion, Reuters reported. The seller in the deal is Canadian private equity firm Onex Corp, which acquired KraussMaffei from Madison Capital in December 2012.

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