Shenhua, Guodian said ‘to merge’

The merger deal between coal giant Shenhua Group Corp Ltd and State power producer China Guodian Corp has been reported to the State Council, according to news platform Jiemian.com, quoting Guan Weizhu, Guodian’s safety production director, on Wednesday. The new company, which will be temporarily named the National Energy Investment Corp, will have total assets of more than 1.8 trillion yuan ($267 billion) and a debt ratio of more than 60 percent, Guan was quoted as saying while attending the 11th China New Energy International Forum on Wednesday.