Blue Sky Power Holdings Limited entered into an agreement to acquire 51% stake in Beijing Gas Group (Teng County) Co,. Ltd. from Beijing Gas Group Co., Ltd. for approximately HKD 150 million.
The transaction is subject to consummation of due diligence, restructuring, shareholders of Blue Sky Power, consummation of private placement, listing of shares in Stock exchange, and approval from regulatory authorities. The transaction has been approved by Board of Directors of Blue Sky Power. The special general meeting of shareholders of Blue Sky Power Holdings to be held on March 16, 2016. The transaction was approved at the special general meeting of shareholders of Blue Sky Power Holdings held on March 16, 2016.
Boardroom Corporate & Advisory Services Pte. Ltd. and Tricor Investor Services Limited acted as share transfer agent and The Central Depository (Pte) Limited acted as depository for Blue Sky Power Holdings. J.P. Morgan acted as financial advisor to Beijing Gas Group Co. Ltd. The conversion has been done through www.oanda.com as on December 31, 2015.