AFX News Limited
Carlyle sees listing for China's Xugong Group
11.02.2005, 11:22 PM
BEIJING (AFX) - Xugong Group Construction Machinery Co will eventually become a listed company, a Carlyle official said.
Luo Yi, chief representative for Carlyle Asia Investment Advisors in Shanghai, did not say when or where Xugong, China's leading construction machinery maker and distributor, would list.
The US private equity group last month signed an agreement to buy 85 pct of Xugong for 375 mln usd.
The deal is pending government approval and final clearance could take six months.
Luo did not say how much of a stake Carlyle would retain in the group after an eventual listing.
