Investment Updates News
- China Resources to buy GD power stake
Date: 28-Mar-2007 Sources: (Shenzhen Daily)
POWER producer China Resources Power said Monday it was in talks to buy at least a 25 percent stake in Guangdong Yuedian Group Co. Ltd., the parent of Guangdong Electric Power Development Co.
'We are in advance talks,'China Resources' chief executive Wang Shuaiting told reporters. But any deal would need the government's approval, he added. Yuedian, which has sold a 24 percent stake to Huaneng Group, would like to seek one to three more strategic investors during its share reform, local media reported.
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