19 April 2019

Green Energy takeover talks collapse over price, paper says

Beijing Development (Hong Kong) Ltd. (00154.HK) has failed to reach an agreement over its proposed acquisition of a waste incineration power plant from Hangzhou Jinjiang Group, China Securities Journal reported Thursday, citing company sources. The negotiations broke down over price, the report said. Beijing Development, controlled by state-run Beijing Enterprises Holdings Ltd. (00392.HK), had offered US$530 million for China Green Energy Ltd. which is wholly owned by Hangzhou Jinjiang Group. Hangzhou Jinjiang is considering a public listing in Hong Kong, the report said.

– Contact HKEJ at [email protected]


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