Business Activities News
- Yangtze Power buys Shanghai Electric stake
Date: 1-Jun-2007 Sources: (Shenzhen Daily)
CHINA Yangtze Power Co., operator of the world's biggest hydropower project, agreed to buy a stake in Shanghai Electric Power Co. for 701 million yuan (US$92 million).
The Shanghai-listed hydropower operator will buy 10 percent, or 156 million, of Shanghai Electric shares from State-owned Shanghai Huadong Electric Development Co., Beijing-based China Yangtze Power said in a statement Thursday. The stake sale is part of 9,200 megawatts of State-owned power capacity the government is auctioning. The government is selling assets to separate ownership of power plants from the network carrying the electricity to bring the nation nearer to global practices and improve the stability of supply.
Sponsor Results:
