TBEA's (SHA:600089) subsidiary, Xinte Energy (HKG:1799), acquired 49% of thermal power generation company Xinjiang Zhundong Tebian Energy for 1.51 billion yuan, according to a Shanghai Stock Exchange filing on Saturday.
Zhundong Tebian Energy is a wholly-owned subsidiary of the holding subsidiary, Xinjiang Tianchi Energy, the power transformer manufacturer said.
After the completion of the transaction, Tianchi Energy will continue to hold 51% of Zhundong Tebian Energy, the filing said.
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