GD Power Development to Acquire Controlling Shareholder's Stake in Power Generation Companies-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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GD Power Development to Acquire Controlling Shareholder's Stake in Power Generation Companies

MT Newswires Live12:42

GD Power Development (SHA:600795) plans to acquire certain assets of its controlling shareholder, China Energy Group, to help further reduce competition within the same industry, according to a Shanghai bourse filing on Thursday.

The assets are equity interests in several conventional power generation companies, with an aggregate operational capacity of about 320,000 kilowatts and an aggregate planned installed capacity under construction of 13.5 million kW.

Those that will be acquired are 67% of Guoneng Hubei Songzi Pumped Storage, 65% of Guoneng (Hengshui) Thermal Power and 100% of China Energy Investment Corporation Anhui Energy, Guoneng Diannan Kaiyuan Power Generation and Guoneng Qinghai Delingha Coal-Fired Power.

The Chinese state-controlled power company's subsidiary, Guoneng Daduhe River Basin Hydropower Development, proposed to acquire 51% equity each in China Energy Investment Corporation Jinsha River Benzilan Hydropower and China Energy Investment Corporation Jinsha River Xulong Hydropower.

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