Shanghai Electric to sell 132M shares of Tianwo Tech to parent for CNY 564M

Shanghai Electric announced it will transfer 132 million shares of Suzhou Tianwo Science & Technology Co., Ltd. to its controlling shareholder Shanghai Electric Holdings Group for CNY 564 million. After the transaction, Shanghai Electric will exit China's onshore solar and wind EPC business, while Tianwo Tech will focus on those domestic markets.

“上海电气拟以人民币4.26元/股的价格，共计人民币5.64亿元的对价，通过非公开协议转让的方式将持有的苏州天沃科技股份有限公司1.32亿股股份转让给上海电气控股股东上海电气控股集团有限公司。”beta.zhitongcaijing.com

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