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Huaneng Power: the joint venture intends to acquire a 30% stake in Baixianjiao Company for no more than 0.582 billion yuan.
Huaneng Power (00902) announced that on July 18, 2024, the board of directors approved a partnership agreement to acquire 30% equity interest in Baxianjiao Company from Huaneng Hong Kong for a total consideration of no more than RMB 0.582 billion in accordance with the upcoming equity transfer agreement to be signed between Huaneng Jiangsu (a wholly-owned subsidiary of the Company), Huaneng Hong Kong, partnership and Baxianjiao Company. Meanwhile, according to the equity transfer agreement, Huaneng Jiangsu agreed to sell and the partnership agreed to purchase 69.99% equity interest in Baxianjiao Company. It is reported that Baxianjiao Company mainly engages in the manufacturing of special equipment for offshore wind power generation and wind power generation.
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Huaneng Power (00902.HK) issued a letter of support to Shandong Corporation.
On July 18th, Gelunhui announced that Huaneng Power (00902.HK) issued a letter of support to Shandong company on July 18, 2024. According to this, in the event that Shandong company fails to fulfill its operational and cash substitution payment obligations, the company will provide liquidity support to Shandong.
Huaneng Power (00902.HK): The joint venture plans to acquire 30% of Baixianjiao Company's equity for no more than 0.582 billion yuan.
On July 18th, Gelunhui reported that Huaneng Power (00902.HK) announced that on July 18th, 2024, the board of directors approved the partnership agreement and agreed to acquire 30% equity of Baixianjiao Company from Huaneng Hong Kong for a total consideration not exceeding RMB 0.582 billion, based on the equity transfer agreement that will be signed between Huaneng Jiangsu, Huaneng Hong Kong, the partnership, and Baixianjiao Company. At the same time, according to the equity transfer agreement, Huaneng Jiangsu agreed to sell and the partnership agreed to purchase 69.99% equity of Baixianjiao Company. As of the date of this announcement, Huaneng Hong Kong directly holds 30% equity of Baixianjiao Company and
Express News | Huaneng Power International - Deal for Not Higher Than RMB582.2 Mln
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