Zheneng Jinjiang Top Shareholder Offers 782 Million
Zhejiang Provincial Energy Group offered to take Zheneng Jinjiang private in a deal valued at 782 million dollars. The cash offer provides a significant premium over the recent closing share price.
Insights:
Zhejiang Provincial Energy Group offered to take Zheneng Jinjiang Environment Holding private on Tuesday afternoon in a S$1.0 billion ($782 million) cash-and-share deal. The buyout proposal represents a 29.6% premium over the waste-to-energy firm's closing price on September 24. Zhejiang Provincial Energy Group aims to streamline operations and secure full control after years of subdued equity market activity.
