USEUROPEAFRICAASIA 中文双语Français
Home / Business

Shenhua, CGN to seek big utilities merger

By Bloomberg | China Daily | Updated: 2016-07-22 08:00

Chinese coal producer Shenhua Group Corp is seeking a merger with State-owned China General Nuclear Power Corp, people with knowledge of the matter said, a deal that would create a utility giant with about $204 billion of assets.

Shenhua has submitted a proposal to government regulators about a possible merger, the people said, asking not to be identified as the information is private. The government is still considering the proposal, and there's no certainty it will result in a tie-up.

Any deal would combine China's largest coal producer with its biggest generator of atomic power, giving Shenhua the ability to generate energy from cleaner sources as the nation seeks to reduce its dependency on coal and cut carbon emissions.

Shenhua, CGN to seek big utilities merger

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US