Jurisdiction - China
Herbert Smith Freehills Advises Huaneng Power On USD 1.19bn Acquisition Of Chinese Power Plants.

18 November, 2014


Herbert Smith Freehills has advised Huaneng Power International Inc., a Chinese listed power producer and unit of China Huaneng Group, on its acquisition of equity interests in ten power plants in China for a total consideration of USD 1.19bn.


Subject to shareholder approval, Huaneng Power will acquire from Huaneng Group: 91.8% of Huaneng Hainan Power Inc.; 75% of Huaneng Wuhan Power Generation Co., Ltd.; 53.45% of Huaneng Suzhou Thermal Power Co, Ltd.; 97% of Enshi Qingjiang Dalongtan Hydropower Development Co., Ltd.; and 100% of Huaneng Hualiangting Hydropower Co,. Ltd.


The company will also acquire from Huaneng International Power Development Corporation (HIPDC): 60% of Huaneng Chaohu Power Generation Co., Ltd.; 100% of Huaneng Ruijin Power Generation Co., Ltd.; 100% of Huaneng Anyuan Power Generation Co., Ltd.; 100% of Huaneng Jingmen Thermal Power Co., Ltd.; and 100% of Huaneng Yingcheng Thermal Power Co., Ltd.


The Herbert Smith Freehills team was led by Beijing Office Head Tom Chau. Tom Chau commented: “We were very pleased to assist our long standing client Huaneng Group with this large and important transaction, which will significantly bolster the company’s installed capacity and enhance its ability to deliver conventional and renewable energy.”


Haiwen & Partners acted as PRC counsel to Huaneng Power and CICC was the company’s financial adviser.


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