Business Activities News
- Yangtze Power buys stake in peer
Date: 15-Feb-2007 Sources: (Shenzhen Daily)
YANGTZE Electric Power Co., operator of the Three Gorges hydroelectric dam, said yesterday it would pay 3.1 billion yuan (US$400 million) to buy a major stake in another power generator.
Shanghai-listed Yangtze Power has agreed to take 45 percent of Hubei Energy Group, which is now 100 percent owned by the government of the central province of Hubei, Yangtze said in a statement. The purchase, which requires approval by shareholders and the government, will boost Yangtze Power's effective generating capacity by 2.01 million kilowatts, it said.
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