Beijing Jingneng Thermal Power Co., Ltd. (SHSE:600578) agreed to acquire the coal-fired power operation assets of Beijing Jingneng International Energy Company Ltd. for CNY 9.3 billion in stock on May 4, 2012. The assets includes stakes in 9 coal-fired power generation companies as 51% in Inner Mongolia Daihai Electric Power Generation Co., Ltd., 65% in Ningxia Jingneng Ningdong Electric Power Co., Ltd., 51% in Inner Mongolia Jingneng Kangbashi Thermal Power Co., Ltd., 65% in Changzhi Xinlong Coal Gangue Power Plant Co., Ltd., 40% in GD Power Datong Power Generation Co., Ltd., 34% in Huaneng Beijing Co-Generation Co., Ltd., 30% in Sanhe Power Generation Co., Ltd., 25% in Inner Mongolia Datang International Tuoketuo Power Generation Co., Ltd. and 25% in Inner Mongolia Datang International Tuoketuo No. 2 Power Generation Co., Ltd. As on May 4, 2012, Jingneng International's Board of Directors has approved the transaction.

Beijing Jingneng Thermal Power Co., Ltd. entered into an agreement to acquire the coal-fired power operation assets of Beijing Jingneng International Energy Company Ltd. on May 9, 2012. As per the terms of the deal, Jingneng Thermal Power will buy the assets by issuing 1.18 billion new shares to Jingneng International Energy. As on May 9, 2012, the shareholders of Jingneng International and the Board of Beijing Jingneng Thermal Power Directors approved the transaction. As on May 11, 2011, Beijing Jingneng Thermal Power Co., Ltd. will acquire the coal-fired power operation assets of Beijing Jingneng International Energy Company Ltd. for CNY 9.2 billion as the issue price of shares was amended.

As on June 6, 2012, Beijing Jingneng Thermal Power Co., Ltd. will acquire the coal-fired power operation assets of Beijing Jingneng International Energy Company Ltd. for CNY 8.9 billion. Beijing Jingneng Thermal Power will now issue 1.12 billion new shares to acquire the assets. The transaction is subject to approval from Beijing's SASAC and approval from the China Securities Regulatory Commission. As on June 18, 2012, State-owned Assets Supervision and Administration Commission of Beijing Municipal People's Government approved the deal. As of June 21, 2012, the shareholders of Beijing Jingneng Thermal Power Co., Ltd. approved the transaction. As on December 12, 2012, China Securities Regulatory Commission approved the transaction. As on December 12, 2012, the number of shares to be issued as consideration will be 1.16 billion. China Securities Co., Ltd and BOC International (China) Limited acted as financial advisors to Beijing Jingneng Thermal Power. Beijing Tian Yuan Law Firm acted as legal advisors to Beijing Jingneng Thermal Power. Deloitte Touche Tohmatsu Certified Public Accountants Ltd. and Beijing Xinghua Certified Public Accountants Co., Ltd. acted as accountants to Beijing Jingneng Thermal Power. Pan-China Assets Appraisal Co., Ltd. acted as asset appraisal agency to Beijing Jingneng Thermal Power.

Beijing Jingneng Thermal Power Co., Ltd. (SHSE:600578) completed the acquisition of the coal-fired power operation assets of Beijing Jingneng International Energy Company Ltd. on December 24, 2012.