Asia
China Southern Power Grid Technology to Buy YueNeng Electric for 445 Million Yuan
China Southern Power Grid Technology (SHA:688248) agreed to fully acquire power testing and commissioning company Guangzhou YueNeng Electric Power Technology Development from related party HuiNeng Industrial.The 445.0-million-yuan acquisition aims to resolve horizontal competition and boost industrial synergies, according to a weekend filing with the Shanghai bourse.The transaction requires shareholder approval.Shares of the power energy systems developer rose 9% in recent trade.
SHA:688248
