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Magni buys back Dingli’s 20% share
12 December 2023
Magni Telescopic Handlers has bought back the 20% stake in its business acquired by Chinese OEM Dingli in 2016. Magni paid �61.4 million to return to 100% ownership, having sold the stake to Dingli for �14.4 million in early 2016.
The transaction was announced by Dingli several weeks ago and confirmed last week by Riccardo Magni in an interview with , the daily newsletter published by International Rental News.

Under the 2016 deal, Magni designed a range of products for Dingli and also sold Dingli-produced machines in Europe. The two companies will continue their sales and technical cooperation under the new ownership structure.
Magni, who founded the company in 2013, told Rental Briefing; “We still have a very good relationship with Dingli. It is a family company, like ours. I asked [Dingli’s owner] Mr Xu to sell me back my 20%. It took one year to discuss everything and he made a very good deal, because now I’m paying �61 million for what he paid �15 million.
“We have had a very good collaboration. In Europe, we are selling a very good volume. We are over �100 million in sales of the Dingli machine.�
Magni added that the EU anti-dumping investigation into Chinese access equipment exports to Europe had played a part in the decision.

Dingli, in its Chinese language announcement, said; “After the completion of this equity transfer, the company’s retained earnings will increase, benefiting all shareholders and the company.
“Following the transaction, Zhejiang Dingli and Magni will continue to maintain a good cooperative relationship in product sales, market development, technical cooperation, and other aspects.�
Read the full interview with Riccardo Magni later this week at and in Rental Briefing.
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