Shanghai Electric makes reported aviation acquisition
August 16, 2016
Industrial Supplies & Parts | Rastede, Germany | Corporate Acquisition
Power generation equipment manufacturer Shanghai Electric Group (SSE: 601727) has acquired a 100 percent stake in Broetje-Automation for HK$1.7 billion ($219.19 million) from Deutsche Beteiligungs, according to Reuters reports. Broetje-Automation is an aircraft construction company that specializes in the design, development and distribution of aircraft supplies and had been backed by Deutsche Beteiligungs since January 2012.