SINGAPUR (dpa-AFX) - China Yuchai International Limited (CYD), one of the largest powertrain solution manufacturers through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited ('GYMCL'), said that GYMCL has reached an agreement with Beijing Liandong Jinyuan Management Technology Co., Ltd. for the sale of GYMCL's 100% equity holding in Yuchai Remanufacturing Services (Suzhou) Co., Ltd. to Beijing Liandong.
The consideration is RMB 179.94 million, along with the book value of cash and cash equivalents and an agreed-upon fair value for the equipment in Suzhou Reman as of the settlement date.
The consideration for the transaction will be in the form of cash and it will be paid into an escrow account in phases, the company said.
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