Chongqing Machinery & Electric (HKG:2722) unit Chongqing Machine Tools Group agreed to acquire Chongqing Panlian Transmission Technology for a little over 35.6 million yuan, a Thursday filing with the Hong Kong bourse stated.
The gear and shaft component firm is being purchased from CQMEHG Asset Management, which is a subsidiary of Chongqing Machinery & Electronics Holding (Group), the controlling shareholder of the company.
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