China state-owned firm in $3.4 billion deal to buy military assets

Sichuan Chengfei Integration Technology Corp (002190.SZ), a Chinese state-owned maker of auto parts and batteries, said it plans a $3.4 billion private share placement to raise funds to buy three companies that make military aircraft. Sichuan Chengfei's offer follows a push by the Beijing government to use capital markets to fund military expansion and float state-owned assets.

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