TradingMarkets.com
2 May 2008
HONG KONG, May 02, 2008 (SinoCast via COMTEX) -- HNP | news | PowerRating | PR Charts -- Huaneng Power International Inc. (SEHK: 0902 and SHSE: 600011), the pillar arm of China Huaneng Group, takes over the helm of Singapore-based Tuas Power Ltd. from its parent.
The listed company inks an agreement to purchase the 100% stake in SinoSing Power Pte Ltd. from Huaneng Group, who established it especially for buying up Tuas Power. The consideration is composed of two parts: the USD 985 million capital stock Huaneng Group invested in SinoSing Power and the all expenditures SinoSing Power spent in acquiring the Singaporean power company.
>>>> More
