Magenta-owned Cifa receives Chinese offer

According to reports, Magenta-owned Cifa has received an offer from Chinese heavy machinery manufacturer Changsha Zoomlion Industry Science and Technology Development in conjunction with other partners.

Zoomlion will acquire 60% of the Italian group with the remaining 40% retained by other investors including Chinese house Hony Capital. The auction process which was launched late last year is being run by Credit Suisse and Fineurop Soditic.

Active in the design, manufacture and distribution of heavy machinery, Milan-based Cifa is valued at approximately EUR300m.

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