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.
Full Content: Bloomberg
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