6 mln power plant deal: Datang shareholders

Hong Kong, Apr 2: Datang International Power Generation Co. Ltd. said its shareholders had approved its plan to buy a controlling stake of a power plant in Liaoning province for 1.82 billion yuan (US5.5 million).

The power company said in a statement it would buy a 55 percent stake in Jinzhou Donggang Power Co. Ltd. from Jiangsheng Group for 1.29 billion yuan in cash and 533.1 million yuan in assumed liabilities.

Jinzhou Donggang Power operates six 200-megawatt coal-fired generation units. The average operating age of the generation units is less than 20 years.

Reuters