China Power International Development (HKG:2380) entered into two equity transfer agreements as part of a proposed asset restructuring, according to a Wednesday Hong Kong bourse filing.
Under the first deal, the power company and Xiangtou International will transfer 63% and 37% of their respective equity interests in Wu Ling Power to Yuanda Environmental.
The total equity interest consideration is about 24.67 billion yuan.
Under the second agreement, Guangxi Company, the power company's wholly owned subsidiary, will transfer a 64.93% interest in Changzhou Hydropower to Yuanda Environmental for about 3.07 billion yuan.
Yuanda Environmental will settle the consideration through consideration shares and cash.
The power company's consideration share subscription from Yuanda Environment serves as an acquisition.
Meanwhile, the company's equity interest transfers in Wu Ling Power and Changzhou Hydropower serve as disposals.
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