News Column

Jointo Energy Plans to Swap Assets with Majority Shareholder

August 4, 2014

SHANGHAI, August 4, SinoCast -- Jointo Energy Investment Hebei announces that Hebei Construction and Investment Group, controlling shareholder, plans to transfer equities in four thermal power and heating suppliers and equities in five waste incineration power firms to the company.

The company plans to transfer 90% equities in Hebei Construction and Investment Guorong Energy to the group as part of the consideration of the deal. The company will pay remaining of the consideration with cash.

The deal helps the company expand main business, cement core competitiveness and sustainable development capacity. Moreover, the deal helps the company focus resources on core fields.

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Source: Sinocast Energy Beat (China)

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