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China: Energy giants make plans for new powerhouse

By  |  May 6, 2013
China: Energy giants make plans for new powerhouse

An announcement to the Hong Kong Stock Exchange has been offered by both China Resources Power Holdings Co. and China Resources Gas Group Ltd., notifying the stock exchange of a suspension of the companies’ shares as they announced plans for a possible merger. Negotiations are reportedly in the works between the power generator and the natural gas distributor as they look to combine and form a new energy conglomerate. The new business would remain under its state-owned parent China Resources (Holdings) Co. Financial plans for the deal were not revealed, nor was a timeline for expected completion.

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