ITALY - Magenta sells Cifa to Zoomlion
Now liquidated private equity firm Magenta has sold its only portfolio company to a consortium comprising Chinese heavy machinery firm Zoomlion, Goldman Sachs Private Equity, Mandarin Capital Partners and Hony Capital, in a EUR 500m deal.
According to reports, Zoomlion had to outbid fellow Chinese giant Sany in order to win the auction led by Credit Suisse and Fineurope Soditic.This largest Chinese investment in Italy and second ever in Europe.
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