CGN Power (HKG:1816, SHE:003816) agreed to purchase a nuclear power plant developer from its controlling shareholder for 1.20 billion yuan, according to a Hong Kong Stock Exchange filing on Wednesday.
The company will buy CGN Taishan No. 2 Nuclear Power from state-owned China General Nuclear Power. The target company was established in 2011.
After the completion of the transaction, Taishan No. 2 will become a wholly-owned subsidiary of CGN Power.
CGN Power's Shenzhen shares slipped less than 2% in recent trade.
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