China Power International Development (HK:2380) has released an update.
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China Power International Development Limited is considering a proposed asset restructuring after receiving a proposal from its ultimate controlling shareholder, State Power Investment Corporation Limited (SPIC). The restructuring would involve the company using its controlling stakes in hydropower subsidiaries to acquire new shares in Yuanda Environmental, potentially making China Power the controlling shareholder of Yuanda Environmental. However, the deal is in its preliminary stages, with details yet to be confirmed and subject to regulatory approvals and other conditions.
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