In-Depth: China is shopping for European construction giants

30 July 2020 - 12:00 am UTC

Two Chinese state-owned companies are the latest to swoop in on troubled construction companies in Southern Europe. The acquisitions are based on a well-honed strategy that looks beyond Europe and is set to continue, despite rising protectionism on the continent, reports Celine Ge

In May, when Spain was in the grip of a coronavirus-inspired state of emergency, the overseas-focused subsidiary of the Chinese state-owned builder China Railway Construction Corporation (CRCC) announced the completion of a EUR 256m (USD 276m) subscription of equity shares for a 75% stake in Madrid-based Grupo Aldesa, one of Spain’s largest construction companies.

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