China Yangtze Power will pay its parent company US$15.8 billion to purchase the remaining 18 generators the firm does not already own in the Three Gorges Dam project, the South China Morning Post reported. The acquisition will be funded by a combination of cash, debt and new shares and would be the largest asset injection ever by a Chinese energy company. China Yangtze, the Shanghai-listed flagship of China Yangtze Three Gorges Project Development, said at the time of its 2003 listing that it would buy all generators from its parent by 2015. China Yangtze already own eight generators in the Three Gorges Dam project. “The transaction allows Yangtze Power to expand its hydropower business quickly, raise profits and better manage risk,” the firm said in a statement filed with the Shanghai exchange.
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