Inner Mongolia Dian Tou Energy Corporation Limited (SZSE:002128) agreed to acquire State Power Investment Corporation Inner Mongolia Baiyinhua Coal and Electricity Co., Ltd. from State Power Investment Group Inner Mongolia Energy Co., Ltd. for CNY 13.15 billion on May 16, 2025. A cash consideration will be paid by Inner Mongolia Dian Tou Energy Corporation Limited. The consideration consists of common equity of Inner Mongolia Dian Tou Energy Corporation Limited to be issued for common equity of State Power Investment Corporation Inner Mongolia Baiyinhua Coal and Electricity Co., Ltd.

As of March 31, 2025, State Power Investment Corporation Inner Mongolia Baiyinhua Coal and Electricity Co., Ltd. reported total assets of CNY 25.43 billion and total common equity of CNY 7.54 billion. CNY 4.5 billion of funds will be raised for the transaction.

The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer shareholders and approval of offer by acquirer board. The deal has been approved by the board. State-owned Assets Supervision and Administration Commission approved the transaction.

CITIC Securities Company Limited led by Deng Jun, Liang Ri, Zhong Shan, Kong Peiyu, Zhao Bocheng, Chen Jianxun, Zhang Jizhe, Li Zhangfan, and Yao Keyu acted as financial advisor to Inner Mongolia Dian Tou Energy Corporation Limited. Hangzhou Sunshine Law Firm led by Hou Xusheng and Li Yaning acted as legal advisor to Inner Mongolia Dian Tou Energy Corporation Limited. RSM China Certified Public Accountants Shenzhen Branch led by Meng Hongbing, Cai Xinchun, and Shi Jin acted as accountant to Inner Mongolia Dian Tou Energy Corporation Limited (SZSE:002128)