The buyer, an indirect subsidiary of Japan's Mitsubishi Heavy Industries, is an existing supplier of generators and marine engines to XMH in the Asia Pacific region.
XMH Holdings is selling 14.8% in a fully-held unit to Mitsubishi Heavy Industries Energy System Asia for $12.3 million, and will be booking a gain if $10 million from this deal.
According to XMH on Sept 15, after selling this stake in Mech-Power Generator, the latter will remain as a subsidiary, which is in the business of assembly and sale of generators and related accessories.
