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HUANENG POWER INTERNATIONAL, INC. Entered into Asset Transfer and Capital Increase Agreements (Beijing, China, September 28, 2006) Huaneng Power International, Inc. (the “Company”) [NYSE: HNP; HKEx: 902; SSE: 600011] today announced that the Company entered into an asset transfer agreement with China Huaneng Group (“Huaneng Group”) on September 28, 2006, pursuant to which the Company agreed to acquire from Huaneng Group its 5% equity interest in Qinbei Power Plant, a subsidiary of the Company in which the Company holds a 55% interest in its registered capital, for a consideration of RMB65.75 million. The purchase amount will be funded by the Company’s internal cash surplus. The purchase price was determined on arm’s length terms. On the same day, the Company entered into a capital increase agreement with Huaneng Group and Sichuan Hydropower Limited Company (“Sichuan Hydropower”), pursuant to which the Company agreed to the increase of registered capital of Sichuan Hydropower by way of capital injection of RMB615 million to be made solely by Huaneng Group. Upon the completion of such capital increase, the shareholding of Huaneng Group in Sichuan Hydropower will be increased from 40% to 51% while the Company’s shareholding will be decreased from 60% to 49%. The above transactions have been approved by the Board of Directors of the Company but are still subject to the approval by the Company’s shareholders. The Company expects that the notice for an extraordinary shareholders meeting and the circular providing further information on the abovementioned transactions will be despatched to the Company’s shareholders soon. |
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| aus der Diskussion: | china will yuan aufwerten- auswirkungen für huaneng power |
| Autor (Datum des Eintrages): | hopy00 (29.09.06 09:04:34) |
| Beitrag: | 11 von 50 (ID:24274225) |
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