Denzai acquires majority stake in Huationg

Singapore

DENZAI Holdings on Tuesday completed the acquisition of a 71 per cent stake in Huationg Holdings, a local heavy lifting and specialised transportation provider firm, for an undisclosed sum.

Through its wholly-owned subsidiary Denzai Singapore Asia Pacific, the Japanese firm, which similarly provides heavy lifting cranes and special heavy transport vehicles equipment, purchased a 51 per cent stake in Huationg from its founder Lee Chin Tiong, as well as a 20 per cent stake from JA Mitsui Leasing Singapore.