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E. J. McKay Acts as Financial Advisor in Konecranes’ Definitive Agreement to Acquire Majority Stake in Chinese Hoist and Crane Manufacturer Sanma

E. J. McKay
2009-05-08 15:11 506

HELSINKI, May 11 /PRNewswire-Asia/ -- Konecranes Plc announced the signing of a definitive agreement to acquire the majority equity of Jiangsu Three Horses Crane Manufacture Co. Ltd. (Sanma), a leading Chinese hoist and crane manufacturer. On November 24th, 2008, the parties signed a letter of intent to enter into a definitive agreement, which was successfully accomplished. The final agreement is subject to the approval by Chinese authorities.

The transaction, one of the largest by a Finnish company in China, is representative of the kind of work E. J. McKay is engaged in, that of "advising a highly selective group of key clients in their significant

cross-border transactions that create measurable synergy and transform the economics of the impacted industry," commented James Z. Li, Chairman of the E. J. McKay group.

About Konecranes Plc

Konecranes is a world-leading group of Lifting Businesses, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity-enhancing lifting solutions as well as services for lifting equipment and machine tools of all makes. With a revenue of over 2 billion Euros, the Group has 9,900 employees in more than 485 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki.

About Jiangsu Three Horses Crane Manufacture Co., Ltd. (Sanma)

Jiangsu based Sanma is a leading Chinese hoist and crane manufacturing company. The company is known for quality and long-term customer relationships and has a wide distribution network in China. Sanma produces thousands of hoists and hundreds of cranes per year, with customers across the multiple geographies in the country.

About E. J. McKay

E. J. McKay is a Shanghai based investment banking group specialized in structuring complex cross-border mergers & acquisitions and merchant banking transactions. Through its offices and strategic partnerships, the firm is present in 23 major financial centers around the world. E. J. McKay has a dedicated focus on China, and advises transactions both inbound and outbound, representing clients both local and multinational.

For further information

Please visit: http://www.ejmckay.com , or contact:

Natalie Hsiao

E. J. McKay & Co., Inc.

15/F Shui On Plaza

333 Huaihai Road Central

Shanghai, China 200021

Email: natalie.hsiao@ejmckay.com

Tel: +86-21-5109-6266

Source: E. J. McKay
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