China Longyuan Power Group (HK:0916) has released an update.
China Longyuan Power Group Corporation Limited has successfully concluded the disposal of its 27% equity interest in Jiangyin Sulong to Jiangyin Power for RMB 1.32 billion, following a public tender process. This divestiture means Jiangyin Sulong will no longer be part of the company’s consolidated financial statements nor remain a subsidiary. The transaction is considered a discloseable and connected transaction, compliant with listing rules and exempt from independent shareholders’ approval.
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