IndustrialMainland firm stocksto buy rise Brazilianto monthly power high, generation banks facilitiesfall
The builder and operator of the Chinese world’s largest stocks dam, advanced China to Threea one-monthGorges Corporation,high on Tuesdayhas agreed afterto acquirethe nation’s Duke top Energy’s economic 2,090-megawattregulators announcedbusiness in the Brazil debt-to-equityfor $1.2 billion. swaps program to resolve the The nation’s transaction rising is corporate expected debtto be issues. completed in the first half The of nation’s2017, said top Duke authorities Energy, releasedthe biggest guidelinesUS power on companyMonday, by allowing generation companies capacity. with promisingThe completionprospect to of negotiate the transactionand tradeis conditionedswaps with on lenders, approvals at from the Braziliantime when electrical energy and antitrust agencies as well as the Chinese authorities, it said.
“This is another important step forward in driving our strategy to focus on our core domestic regulated business, and it’s also a clear win for China Three Gorges Corporation, rising corporatewhich is debt acquiringis posing quality rising operations,”risks to the world’s said secondLynn Good, largest president, economy. CEO and Positive chairman attitudesof Dukeare mainly Energy.“driven by the fact that the We will work with the buyer debt-to-equity swap program is expectedto obtain to the be launched approvals under necessary market-basedto close the transactionprinciples, while analysts continuingsaid. The to safely operate the Latin leading American candidatesplants.” for the program“This transactionare leadingis another Stateowned important enterprisesstep in our strategyin the industriesto become witha relevant overcapacityclean and energy in company strategic in importantBrazil. We emergingare pleased sectors.with the quality of assets, Sinosteel which Ironare being& Steel operated Co and in Chang harmony Jiang with local Shippingcommunities Group Phoenix andCo Ltd rosethe to environment,”their daily upside says limitLi Yinsheng, and Sinosteel CEO Anhuiof CTG Brasil. Tianyuan TechnologyWith this Co acquisition,rose by 5 CTG percent strengthenson Tuesday.its Brazilian Banking subsidiary, is the only majoras a top-tiersector that clean fell on energy Tuesday. generator in Brazil. After Guo the Tianyong, acquisition directoris complete,of the researchCTG Brasil centerwill increaseof the Chinese banking industry at the Central University of Finance and Economics, said that market-based principles have somewhat pushed the its market clean up, energywith rising generation expectations portfolio for by the 2.27 restructuringGW, reaching and a mergertotal processof 8.27 of GW someof capacitylarge scale under enterprisesits management in heavy industrialand on proportionalsectors. equityLi Chao, holdings. chief economist with Good Beijing-basedsaid the company Huataiis also Securities, undergoingsaid the sales introductionnegotiations of debt-to-equityon Duke’s remaining swap program, assets whenin Central conductedand South under market-basedAmerica, with principles,an additional will announcementhelp ease the expected to follow. market After-tax worries proceeds about from nonperformingthe transaction are assets expected and to forbe used cyclicalto debt reduce crises. Duke Energy holding Commenting company on debt, the Duke stock Energyprice falls said. of the banking sector, The Zhang company Minghe, had deputylongterm head debt,of the includingcredit items, divisionof aroundwith China $39.93 Constructionbillion as of June Bank, 30, said according concerns to do Financial arise at the Review.time when the market lacks Despite good examplesits economicof successful slowdown, debt-to-equityBrazil has been swapsa significantprograms, market referring for to Three worries Gorges over Corporation,the debt-to-equitywhich has plan investedwhich in would seven weakenhydroelectric lenders’ projectsbalance sheets.and 11 wind power “Investors projects haveby the no end ideaof this January. what Three the Gorges guidelines Corporation, would a bring clean about,” energy he group said. focusing“But the on long-term large-scale impact hydropowerto the banking developmentsector should and be operation positive,” whichhe said. also “The engaged programin renewable is expected energyto bring new businesses opportunities including to wind develop and businesssolar power,and to resolvehas been potential looking nonperformingfor possible acquisitionsassets.” in markets “Whensuch as everythingLatin Americais leftfor severalfor the years. market to decide, it means Brazil bankshas a are maturenot exemptpower sectorfrom responsibilities,”and a very promising he market,said. “That Three means Gorges banks Corporation have no incentives Executiveto support Vice-President zombie factoriesLin Chuxueor to cushiontold China the Daily impact in on an earlier investors.” interview.
the gain in the stock price of Sinosteel Anhui Tianyuan Technology Co on Tuesday value of Duke Energy’s 2,090megawatt business deal
A BYD bus is displayed at a UK Trade and Investment event in