China Longyuan Power Group Corporation Limited entered into an agreement to acquire nine companies from CHN Energy Shaanxi Power Co., Ltd., CHN Energy Guangxi Power Co., Ltd., CHN Energy Yunnan Power Co., Ltd., National Energy Group Gansu Electric Power Co., Ltd., Guodian North China Electric Power Co., Ltd., and CHN Energy Northeast Power Co., Ltd.
January 18, 2021
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China Longyuan Power Group Corporation Limited (SEHK:916) entered into an agreement to acquire nine companies from CHN Energy Shaanxi Power Co., Ltd., CHN Energy Guangxi Power Co., Ltd., CHN Energy Yunnan Power Co., Ltd., National Energy Group Gansu Electric Power Co., Ltd., Guodian North China Electric Power Co., Ltd., and CHN Energy Northeast Power Co., Ltd. in January 2021. The nine companies are Guodian Northeast New Energy Developments Ltd, Guoneng Dingbian New Energy Co., Ltd., GD Power Guangxi New Energy Development Co., Ltd., Guoneng Yunnan New Energy Co., Ltd., Guodian Qiaojia New Energy Co., Ltd., Guodian Gansu New Energy Co., Ltd., Tianjin Guodian Jieneng Electric Power Co., Ltd., Guodian North China Inner Mongolia New Energy Co., Ltd., Guodian Shanxi Jieneng Co., Ltd. China Longyuan Power Group is also acquiring stake in Inner Mongolia Pingzhuang Energy Resources Co., Ltd. CHN Energy Northeast Power Co., Ltd. is selling 100% stake in Guodian Northeast New Energy Developments Ltd, CHN Energy Shaanxi Power Co., Ltd. is selling 100% stake in Guoneng Dingbian New Energy Co., Ltd., CHN Energy Guangxi Power Co., Ltd. is selling 100% stake in GD Power Guangxi New Energy Development Co., Ltd., CHN Energy Yunnan Power Co., Ltd. sill sell 100% stake in Guoneng Yunnan New Energy Co., Ltd. and 50% stake in Guodian Qiaojia New Energy Co., Ltd., National Energy Group Gansu Electric Power Co., Ltd. will sell 100% stake in Guodian Gansu New Energy Co., Ltd., while Guodian North China Electric Power Co., Ltd. will sell 100% stake in Tianjin Guodian Jieneng Electric Power Co., Ltd., Guodian North China Inner Mongolia New Energy Co., Ltd., and Guodian Shanxi Jieneng Co., Ltd. The transaction has been approved by Board of China Longyuan Power Group Corporation Limited. The transaction requires approval from assets supervision and administration department, China Securities Regulatory Commission (CSRC), and Anti-Monopoly Bureau of the State Administration. As of June 18, 2021, Inner Mongolia PingZhuang Energy Resources Co., Ltd. board of directors have approved the transaction. As of August 2, 2021, China Securities Regulatory Commission Administrative License Application Acceptance Form license was obtained.
China Longyuan Power Group Corp Ltd is a China-based company mainly engaged in power sales business. The company operates three segments. Wind Power segment constructs, manages and operates wind power plants and produces electricity and sells it to grid companies. Coal Power segment constructs, manages and operates coal-fired power plants and produces electricity and sells it to power grid companies. All Others segment is mainly engaged in manufacturing and selling power generation equipment, providing consulting services, providing maintenance and training services to wind power enterprises and other renewable energy power generation and sales.
China Longyuan Power Group Corporation Limited entered into an agreement to acquire nine companies from CHN Energy Shaanxi Power Co., Ltd., CHN Energy Guangxi Power Co., Ltd., CHN Energy Yunnan Power Co., Ltd., National Energy Group Gansu Electric Power Co., Ltd., Guodian North China Electric Power Co., Ltd., and CHN Energy Northeast Power Co., Ltd.