BAVARIA Industries Group AG completes the sale of TriStone Group to the Chinese Zhongding Group. The Chinese and German authorities have approved the transaction. Part of the consideration amounting to EUR 170 million was paid into an escrow account – the rest is immediately available for further acquisitions.
BAVARIA Industries Group AG employs approximately 3,000 employees in eight European companies. Headquartered in Munich, the majority of the industrial holding company is family-owned and pursues a long-term investment strategy. BAVARIA’s high rate of investments and extensive share buybacks are evidence of Management’s continuing confidence in the future of the organization.
BAVARIA Industries Group AG also maintains a focus on corporate responsibility, with a high rate of apprentice training and continuous financial contribution to charity organizations.
For further questions please contact:
BAVARIA Industries Group AG
Reimar Scholz
Bavariaring 24
80336 Munich
Germany
Tel.: + 49 (0)89/ 72 98 967 0
Fax: + 49 (0)89/ 72 98 967 10
Email: info(at)baikap.de