April 17, 2012,  Sany Heavy Industry Co.,Ltd.(stock code：600031) acquired 100% interest of Putzmeister Holding GmbH through its subsidiary Sany Germany GmbH ("Sany Germany") and Citic Industry Investment Fund (Hong Kong) Consulting Co., Ltd (Citic Fund) at a price of Euro 360 million which included Euro 324 million contributed by Sany Germany.  After the acquisition, Sany Germany and Citic Fund held 90% and 10% stakes of Putzmeister Holding GmbH.

Sany is a giant construction machinery manufacturer ranked first in China and sixth across the world, specializing in research, manufacture and sales of construction machineries.  July, 2011, Sany was first listed in FT Global 500 with USD 21.584 billion market value as the first Chinese machinery enterprises in the list.

Jingtian & Gongcheng acted as the acquirer's PRC lawyer.