China Power New Energy - US$269 million placing of new shares to China Three Gorges Corporation

  • 12 Dec 2011
 

Slaughter and May, Hong Kong, is advising China Power New Energy Development Company (CPNE) on its placing of new shares to China Three Gorges Corporation.

Under a share purchase agreement, CPNE will issue HK$2.1 billion (US$269 million) new shares to China Three Gorges, giving China Three Gorges a 29.05% share in the enlarged share capital of CPNE.

CPNE is principally engaged in the development of clean energy in the PRC and operates wind power, hydro-electric, waste-to-energy power, natural gas power and other power generation assets. The CPNE Group is also engaged in investment holding in the clean energy power industry, the sale of clean energy power generating equipment and property investments.

China Three Gorges is a PRC wholly-owned state enterprise and manages the construction and operation of the Three Gorges Project.

The transaction was announced on 12 December 2011.

 
 

Contacts

 

Benita Yu (partner), Lillian Lian (associate)

 
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