(Corrects acronym for Zhengzhou Coal to ZMJ from ZJM)
HONG KONG, May 2 (Reuters) - Zhengzhou Coal Mining Machinery
Group Co Ltd (ZMJ) has teamed up with private equity
firm China Renaissance Capital Investment (CRCI) to buy Robert
Bosch's starters and generators business SG Holding for 545
million euros ($595 million).
ZMJ, which produces auto components and coal mining
machinery, said in a statement to the Hong Kong stock exchange
on Tuesday that it valued SG's technology and research
capability, its customer base and established global sales
The deal is expected to help SG expand its footprint in
China, the world's largest automotive market.
ZMJ estimated that not more than 440 million euros will be
funded through internal resources of ZJM and CRCI while the
remainder would be funded through external bank financing.
Robert Bosch is a multinational engineering and electronics
company and controller of SG Group. CRCI manages investment
funds incorporated in the Cayman Islands that invests in
businesses focused on greater China.
($1 = 0.9163 euros)
(Reporting by Anne Marie Roantree; editing by Susan Thomas)