Hebei Construction Investment Energy Investment Co., Ltd. signed an equity purchase agreement to acquire 50% stake in Yangquan Coal Industry Group Xishangzhuang Low Calorific Value Coal Thermal Power Co., Ltd. from Yangquan Coal Industry Co., Ltd. for approximately CNY 210 million.
October 08, 2020
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Hebei Construction Investment Energy Investment Co., Ltd. signed an equity purchase agreement to acquire 50% stake in Yangquan Coal Industry Group Xishangzhuang Low Calorific Value Coal Thermal Power Co., Ltd. from Yangquan Coal Industry (Group) Co., Ltd. (SHSE:600348) for approximately CNY 210 million on September 30, 2020. Under the terms of agreement, CNY 60 million of deposit will be paid by Hebei Construction Investment Energy Investment in accordance with the requirements of Yangquan Coal Industry and then within 5 working days after this contract takes effect, remaining transfer price of CNY 150.11885 million will be paid by Hebei Construction Investment Energy Investment.
Yang Quan Coal Industry (Group) Co., Ltd. is one of the largest Chinese coal producers. The group's activity is organized around two areas:
- production and sale of coal;
- production and distribution of electricity and heat.
All sales are earned in China.
Hebei Construction Investment Energy Investment Co., Ltd. signed an equity purchase agreement to acquire 50% stake in Yangquan Coal Industry Group Xishangzhuang Low Calorific Value Coal Thermal Power Co., Ltd. from Yangquan Coal Industry Co., Ltd. for approximately CNY 210 million.