UPDATE 1-China's Xuzhou to buy $820 mln assets from parent

Newswire

(Adds details, background) By Fang Yan SHANGHAI, July 25 (Reuters) - China's Xuzhou Construction Machinery Science & Technology Co said on Friday it will buy operating assets worth 5.6 billion yuan ($820 million) from its state-run parent, paving the way for a full listing of the country's biggest construction equipment maker. Xuzhou Construction will issue 340 million shares to its parent, Xugong Group Construction Machinery Co, at 16.47 yuan a share, a nearly 13 percent premium ...

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