M&As this week: GE, Shangrao Kangsheng Technology
GE has announced its intention to acquire LM Wind Power Holding from Doughty Hanson & Co., a private equity firm, in exchange for $1.65bn.
The target company manufactures turbine blades for the wind industry, and owns 13 factories in eight countries.
The transaction is expected to close in the first half of 2017.
Shangrao Kangsheng Technology has signed a definitive agreement with Wide Wealth Group Holding, an indirect subsidiary of JinkoSolar Holding, to acquire the 55% stake held by JinkoSolar in Jiangxi JinkoSolar Engineering.
Shangrao Kangsheng Technology intends to fund the $250m acquisition with personal funds and debt financing.
The transaction is expected to be closed in the fourth quarter of 2016.