Joy Global buys 41% of China-based International Mining Machinery Holdings for $538 million
Joy Global, one of the world's leading heavy-equipment mining companies, will take over China-Based International Mining Machinery Holdings Ltd.
According to a statement released on Thursday, Joy Global will purchase 534.8 million shares of IMM for HKD 8.50 a share representing 41% of the company. Total cost will be USD$538 million. Subject to regulations, Joy Global will purchase the remaining shares of IMM at a later date.