Ningbo Urban Construction Investment Holding Co.,Ltd completed the acquisition of 5% stake in Ningbo Energy Group Co.,Ltd. from Ningbo Development & Investment Group Co., Ltd.
February 14, 2023
Share
Ningbo Urban Construction Investment Holding Co.,Ltd agreed to acquire a 5% stake in Ningbo Energy Group Co.,Ltd. (SHSE:600982) from Ningbo Development & Investment Group Co., Ltd. for approximately CNY 250 million on December 16, 2022. Under the terms, Ningbo Urban Construction will pay CNY 4.49 share in cash for 55.88 million shares of Ningbo Energy Group Co. Post completion, Ningbo Development will hold 20.62% stake in Ningbo Energy.
Ningbo Urban Construction Investment Holding Co.,Ltd completed the acquisition of 5% stake in Ningbo Energy Group Co.,Ltd. (SHSE:600982) from Ningbo Development & Investment Group Co., Ltd. on February 15, 2023.
Ningbo Energy Group Co Ltd is a China-based company mainly engaged in the production and supply of steam and electricity. The Company's business includes cogeneration, biomass power generation and heating, pumped storage, integrated energy services, and investment businesses related to the energy and environmental protection industries. The Company's enterprises engaged in cogeneration and biomass power generation are distributed in many national and provincial economic development zones in China, mainly using coal, natural gas and biomass as raw materials, and the main products are electricity and steam; The Company's enterprises engaged in pumped storage, energy storage, and integrated energy services mainly operate in project development, construction, operation, and providing customers with integrated energy services.
Ningbo Urban Construction Investment Holding Co.,Ltd completed the acquisition of 5% stake in Ningbo Energy Group Co.,Ltd. from Ningbo Development & Investment Group Co., Ltd.