China Shenhua and GD Power to merge coal power assets

China Shenhua Energy and GD Power proposed to merge their coal-fired power assets worth over 60 billion yuan (US$9.05 billion), with GD Power taking a controlling stake. The parent companies Shenhua Group and China Guodian Group will merge to form China Energy Group.

“The new combination of China Shenhua Energy and GD Power will be jointly owned, but GD Power will have the controlling stake.”scmp.com

• 1 source
• scmp.comAn energy giant is born: China Shenhua and GD Power to merge coal power assets | South China Morning PostEric NgAug 29, 2017

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