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Shenzhen Express (00548) acquires 51% in NJ Wind Power
15 Mar 2019
(Infocast News) Shenzhen Expressway Company (00548) announced that on 15 March 2019, Environmental Company (a wholly-owned subsidiary of Shenzhen Expressway Company) entered into an Acquisition Agreement for the acquisition of 30% equity interest in Nanjing Wind Power from vendors at a consideration of RMB210 million (HK$247.059 million), and make a one-way contribution of RMB300 million (HK$352.941 million) into Nanjing Wind Power after completion of the acquisition.

Upon completion of the transactions, Environmental Company shall hold 51% equity interest in Nanjing Wind Power, which is principally engaged in the research and development, integration, manufacturing, installation, sales and maintenance of wind-power systems, and investment and operation of wind-power farms.

(WL)
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