Date
20 October 2017

Guodian (Group) trims underperforming assets, paper says

China Guodian (Group) Corp. has put up for sale 97.41 percent stake in Guodian Yiyang Power Generation Co. and a 50 percent stake in Inner Mongolia Guodian Electric Power Co., the China Securities Journal reported Sunday. The stakes were put on the block on an equity exchange on November 27 and 28 for 455.1 million yuan (US$74.74 million) and 3.93 billion yuan, respectively, the report said. Sources close to China Guodian were quoted as saying that the moves were part of the group’s efforts to cut loss-making assets and boost profitability. The sources indicated that Guodian could embark on more such asset sales.

– Contact HKEJ at dige[email protected]

EL/AC/RC

 

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