Ningbo Energy Group Co.,Ltd. signed an agreement to acquire 90% stale in Funan Qiyao New Energy Co., Ltd. from CSIC New Energy Co., Ltd. for approximately CNY 340 million.
March 03, 2023
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Ningbo Energy Group Co.,Ltd. (SHSE:600982) signed an agreement to acquire 90% stale in Funan Qiyao New Energy Co., Ltd. from CSIC (Shanghai) New Energy Co., Ltd. for approximately CNY 340 million on March 3, 2023. Ningbo Energy Group will acquire 90% stake in Funan Qiyao New Energy and related creditor?s rights for CNY 336.174664 million. Ningbo Energy Group has participated in the bidding process and recently received a notice from Shanghai United Assets and Equity Exchange that Ningbo Energy Group will be buyer for 90% stake in Funan Qiyao New Energy.
Ningbo Energy Group Co Ltd is a China-based company mainly engaged in the production and supply of steam and electricity. The Company's business includes cogeneration, biomass power generation and heating, pumped storage, integrated energy services, and investment businesses related to the energy and environmental protection industries. The Company's enterprises engaged in cogeneration and biomass power generation are distributed in many national and provincial economic development zones in China, mainly using coal, natural gas and biomass as raw materials, and the main products are electricity and steam; The Company's enterprises engaged in pumped storage, energy storage, and integrated energy services mainly operate in project development, construction, operation, and providing customers with integrated energy services.
Ningbo Energy Group Co.,Ltd. signed an agreement to acquire 90% stale in Funan Qiyao New Energy Co., Ltd. from CSIC New Energy Co., Ltd. for approximately CNY 340 million.