ZMJ, CRCI to buy Bosch's starters and generator unit for $595 mln

(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)