PALFINGER and SANY negotiate reversal of cross-holding


PALFINGER and SANY HEAVY INDUSTRIES are currently negotiating the reversal of their cross-holding to reduce complexity. The potential transaction involves the sale of the 7.5% share in Sany Automobile Hoisting Machinery indirectly held by PALFINGER to a company within the SANY Group in return for the opportunity of transferring the approximately 7.5% share held by Sany Germany GmbH to PALFINGER.

An agreement has been reached today that:

-      the total capital inflows resulting from the cross-shareholding are to be the same for both sides after its reversal, and

-      the transaction is subject to the condition that the price of PALFINGER shares reaches EUR 31.35 per share (closing price).

This will result in there being no significant change in the valuation of the share holding at PALFINGER.

The operative joint ventures between PALFINGER and SANY HEAVY INDUSTRIES are not impacted by the reversal of the cross-holding and will continue as before.

The potential transaction still depends, among other things, on negotiating detailed transaction documents and obtaining any official approvals necessary.

A contract will be signed only following the approval of PALFINGER's Supervisory Board as well as the relevant committees at SANY HEAVY INDUSTRIES.


PALFINGER is an international technology and mechanical engineering company and the world's leading producer and provider of innovative crane and lifting solutions. With over 12,500 employees (without contingent workers.), 30 manufacturing sites and a worldwide sales and service network of around 5,000 service points, PALFINGER creates added value from the challenges of its customers. PALFINGER is consistently continuing on its course as a provider of innovative, complete solutions that deliver increased efficiency and better operability, while leveraging the potential of digitalization along the entire production and value chain. 

PALFINGER AG has been listed on the Vienna stock exchange since 1999, and in 2022 achieved record revenue of EUR 2.23 billion.  


For further information please contact:

Hannes Roither | Group Spokesperson | PALFINGER AG
T +43 662 2281-81100 |

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