Shen­hua, Guo­dian said ‘to merge’

China Daily (Hong Kong) - - BUSINESS -

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.

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