A unit of China Coal Energy (HKG:1898, SHA:601898) agreed to acquire an additional 30% equity stake in Shanxi China Coal Pingshuo New Energy from China Coal Pingshuo Development Group for 114.9 million yuan, a Monday Hong Kong bourse filing said.
Following completion, New Energy Company will become an indirect wholly-owned unit of the coal producer.
The target firm, formed by purchaser China Coal Pingshuo Group and the seller in May 2022, is a new energy company.
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