China Evergrande to sell 40.96% stake in Xinjiang Guanghui
11/01/2020 | 03:00am EST
HONG KONG (Reuters) - China Evergrande Group agreed to sell a 40.96% stake in Xinjiang Guanghui Industry Investment Group to Shenergy Co for 14.9 billion yuan, Guanghui Energy Co said in a disclosure on Sunday.
Guanghui Energy is a subsidiary of Xinjiang Guanghui.
Shenergy, a Shanghai-based power utility, will become the second-biggest shareholder of Xinjiang Guanghui, the disclosure said.
(Reporting by Pei Li and Yingzhi Yang; Editing by William Mallard)