Chinese buyers’ quest in conquering American companies continues with Meijing Group, a Chinese real estate developer planning to purchase Texas-based Mooney Aviation Company Inc.
The deal between Meijing Group and Mooney is expected to revive the 84-year-old manufacturer of single-engine general aviation aircraft which went bankrupt and halted production in 2010.
Besides producing aircraft, the new Mooney company will focus on second-hand trading and renovation, mainly within the Chinese and Asian markets.
The cost of the purchase is still yet to be released.
The purchase comes just after a week when another Chinese company bought Chase Manhattan Plaza for US$725 million in New York.
[Image via: @Caleb’s Photography // Video via: CCTV]