China Huadian Electric Power Research Institute cancelled the acquisition of 10% stake in China Huadian Group Science and Technology Research Institute Co., Ltd. from Guodian Nanjing Automation Co., Ltd..
November 22, 2019
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China Huadian Electric Power Research Institute signed an equity transfer agreement to acquire 10% stake in China Huadian Group Science and Technology Research Institute Co., Ltd. from Guodian Nanjing Automation Co., Ltd. (SHSE:600268) for CNY 1.1 million on November 23, 2018. Payment will be done in one single installment within 30 days since signing of the relevant agreement. Upon completion of the acquisition, Guodian Nanjing Automation will not own any stake in China Huadian Group Science and Technology Research Institute.
China Huadian Group Science and Technology Research Institute Co., Ltd. reported net liabilities of CNY 38.5 million, total assets of CNY 24.46 million, sales of CNY 12.77 million and net loss of CNY 29.27 million as of December 31, 2017. 2018 third extraordinary board meeting of Guodian Nanjing Automation approved the deal on the same date.
China Huadian Electric Power Research Institute cancelled the acquisition of 10% stake in China Huadian Group Science and Technology Research Institute Co., Ltd. from Guodian Nanjing Automation Co., Ltd. (SHSE:600268) on November 23, 2019.
Guodian Nanjing Automation Co Ltd is a China-based company mainly engaged in power grid automation, power plant and industrial automation, rail transit automation, information and security technology, and power electronics. The Company's main product series include power grid automation products, power plant automation products, hydropower automation products, rail transit automation products, information and security technology products and services, new energy and power transmission and transformation system integration services. The Company mainly operates its businesses in the domestic and overseas markets.
China Huadian Electric Power Research Institute cancelled the acquisition of 10% stake in China Huadian Group Science and Technology Research Institute Co., Ltd. from Guodian Nanjing Automation Co., Ltd..