# Shanghai Electric to transfer 80.59% stake in Electric International Trading to Shanghai Electric Group for RMB 1.957 billion

Shanghai Electric announced on August 17, 2021 that its board approved the transfer of its 80.59% stake in Electric International Trading to Shanghai Electric Group for RMB 1.957 billion. The transaction is expected to generate a gain of RMB 568 million.

- Type: Acquisition
- Announced: 2021-08-17
- Where: China
- Value: $302.0M (1.96B CNY)
- Status: announced
- Products: energy equipment, industrial equipment
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Shanghai Electric](https://endata.com/companies/1068.md)
- [Shanghai Electric](https://endata.com/companies/1068.md) (acquirer)
- [Electric International Trading](https://endata.com/companies/57143.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/537374.html), 2021-08-17: "本次股权转让所取得的资金将用于补充该公司的日常运营资金，为该公司的持续发展提供支援。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.