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China: Merger to create a $241 billion energy giant

By  |  March 30, 2017

China’s state-owned enterprise regulator has asked coal mining giant Shenhua Group and power generator China Datang to discuss a possible merger, according to people with knowledge of the situation.

The talks are at an early stage and there’s no guarantee of a deal, said the people, who asked not to be identified as the information isn’t public. Datang International Power Generation, Datang’s Hong Kong-listed unit, said Thursday that the parent company hasn’t received any related news and that it has no information to disclose. Its shares closed 8 percent higher, the biggest gain in two years.

A merger would combine China’s biggest coal producer with one of its largest power generators to create a utility giant with about $241 billion of assets.

Full Content: Financial Times

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