Hong Kong-listed Datang plunges after deal to buy parent’s loss-making power plants

Published: 7/12/2017
Hong Kong-listed Datang plunges after deal to buy parent’s loss-making power plants
Source: WWW.SCMP.COM

Shares of Datang International Power Generation – the listed flagship of one of China’s big five state backed power generation groups – dived as much as 14.5 per cent after unveiling a deal to buy power plants – mostly loss-making – from its parent for 18.1 billion yuan (US$2.7 billion). The company has agreed to acquire three wholly-owned regional units in Hebei, Anh

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