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Shandong High Speed Renewable Energy Acquires 65% Stake in Hengyang Sunde Kaitian

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Shandong High Speed Renewable Energy (SHE:000803) agreed to acquire a 65% stake in Hengyang Sunde Kaitian Renewable Resources Technology for 50 million yuan via its subsidiary Shandong Top Ten.

The target, which operates a 260-ton-per-day kitchen waste facility in Hunan, China, was previously auctioned on Taobao's judicial platform, according to a weekend filing with the Shenzhen bourse.

Shandong Zijian won the stake for 55.3 million yuan before negotiating the 50-million-yuan sale to Shandong High Speed.

The deal requires approval from the Hengyang Urban Management Bureau.

Shares of the infrastructure services provider rose 5% in recent trade.

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