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Chinese Group makes bid to buy KraussMaffei, suggests report

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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.

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