China Yuchai divests Yuchai Remanufacturing Services in Suzhou

China Yuchai announced that GYMCL has recently entered into an agreement with Beijing Liandong Jinyuan Management Technology for the sale of GYMCL’s 100% equity holding in Yuchai Remanufacturing Services to Beijing Liandong. The consideration for the transaction will be in the form of cash and it will be paid into an escrow account in phases. The consideration is RMB 179.94M, along with the book value of cash and cash equivalents and an agreed-upon fair value for the equipment in Suzhou Reman as of the settlement date. The transaction is subject to, amongst others, the receipt of approval of the Suzhou Industrial Park Administrative Committee.