Huadian Power International Co., Ltd. announced acquisition of shares
Posted on | August 12, 2010 | Comments Off
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Special Note Board of Directors of the Company and all members of contents of this announcement is true, accurate and complete, the notice of the false records, misleading statements or major omissions jointly and severally liable
Important tips: trading content: Huadian Power International Co., Ltd. (hereinafter referred to as the “Company”) on April 28, 2010 and CP Energy Development (China) Co., Ltd. (hereinafter referred to as “Chia Tai Energy”) entered into “a hundred years on the Shandong Electric Power Development Co., Ltd. (hereinafter referred to as” Rise of Power “) of the Share Transfer Agreement” (the “Transfer Agreement”). Accordingly, the Chia Tai Energy agreed to sell and the Company has agreed to buy 2.36 billion yuan of the sale of the century electricity Chia Tai Energy 84.31% stake. When the acquisition is completed, electricity will be the century of the Company’s non-wholly owned subsidiaries, the company will consolidate its financial statements.
The acquisition of 84.31% shares of electricity a hundred years, can perfect the layout of the company’s strategy to consolidate our strengths in Shandong Province, to improve the company’s overall profitability.
The transaction does not constitute a connected transaction, and without the need for shareholder approval.
A transaction Overview The company April 28, 2010 signed with the Chia Tai Energy electricity on the share transfer agreement century. Accordingly, the Chia Tai Energy agreed to sell and the Company has agreed to buy 2.36 billion yuan of the sale of the century electricity Chia Tai Energy 84.31% stake. When the acquisition is completed, electricity will be the century of the Company’s non-wholly owned subsidiaries, the company will consolidate its financial statements. No external power provided century mortgage, pledge, any form of security guarantees.
Years 84.31% stake in electricity December 12, 2009 to December 21, 2009 Property Rights Exchange Center in Yantai and Beijing Equity Exchange listing. The Company and domestic Other 4 power generation companies in accordance with the listing requirements of bidding procedures, the Company pre-bid. Considering transaction price target on the company’s manufacturing operations and other relevant factors, from both sides a fair negotiation.
Knowledge of the directors, the CP energy incorporated in the Chinese foreign joint ventures, the Company’s independent third party, so the transaction does not constitute a connected transaction. In accordance with the “Shanghai Stock Exchange Listing Rules” the relevant provisions of the standards of this transaction to constitute a transaction should be disclosed, subject to Board approval and timely disclosure, but does not require shareholder approval.
The acquisition has been the company’s consideration of the Fifteenth Meeting of the board of directors approved unanimously.
Second, the transaction parties briefing The company listed in China’s largest power generation companies. The company’s main businesses include construction, power plants and operating Other And power-related business.
Zhengda the laws of the People’s Republic of energy as the basis and the effective existence of foreign joint ventures. Mainly engaged in electricity, transport, energy and Financial The investment. The directors of the Company made all reasonable inquiries, the CP energy and its ultimate beneficial holders is independent of the Company’s third party.
Three basic conditions of the underlying transactions
Century electricity was incorporated in Shandong Co., Ltd., registered capital of 488 million yuan. Before the acquisition, Chia Tai Energy holds 84.31% stake in electricity a century.
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Tags: acquisition > announced > Huadian > International > Ltd. > Power > shares