Stocks News
- Huaneng to buy stakes in power plants
Date: 29-Nov-2007 Sources: (Shenzhen Daily)
CHINA Huaneng Group Co., the country's largest power producer by capacity, said in a statement yesterday it had agreed to buy majority stakes in two coal-fired plants in Shaanxi Province to boost its capacity.
Huaneng Group, parent of Shanghai and Hong Kong-listed Huaneng Power International Inc., didn't say how much it plans to pay for the stakes. According to the statement, Huaneng Group plans to buy the 60 percent of Shaanxi Qinling Power Co. it doesn't already own, taking its ownership to 100 percent. Huaneng also plans to buy a 60 percent stake in Shaanxi Qinhua Power Co., in which Huaneng doesn't have any interest.
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