January 31, 2018 / 7:32 AM / 19 days ago

China regulator approves nuclear firms' merger in latest state-backed power deal

BEIJING, Jan 31 (Reuters) - China’s state asset regulator said on Wednesday it has approved the proposed merger of China Nuclear Engineering & Construction (CNEC) and China National Nuclear Corp (CNNC), the latest state-orchestrated marriage in the nation’s vast power sector.

In a statement, the State-Owned Assets Supervision and Administration Commission (SASAC) said it has given the green light to the deal, which twins the country’s only nuclear power engineering and construction firm with a big nuclear power producer.

The news comes about 10 months after the companies’ listed entities flagged a deal involving their parent companies was in the works. (Reporting by Josephine Mason; Editing by Kenneth Maxwell)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below