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| Name | Symbol | Market | Type |
|---|---|---|---|
| CLP Holdings Ltd (PK) | USOTC:CLPHY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.01 | 0.12% | 8.38 | 8.33 | 8.39 | 8.42 | 8.3325 | 8.37 | 40,490 | 20:10:58 |
From Jul 2019 to Jul 2024
By Fiona Law
HONG KONG--Utility CLP Holdings Ltd. (0002.HK) and China's state-owned China Southern Power Grid Co. will jointly acquire a Hong Kong electricity company held by a unit of Exxon Mobil Corp. (XOM), CLP said Tuesday.
CLP will raise its stake in Castle Peak Power Co., a power generating joint venture, to 70% while China Southern Power Grid will acquire the remaining 30% from ExxonMobil Energy Ltd., CLP said in a statement. Before the deal, ExxonMobil Energy owned 60% of Castle Peak, while CLP owned 40%.
Separately, CLP will acquire all of ExxonMobil Energy Ltd.'s 51% interest in Hong Kong Pumped Storage Development Co. After the acquisition, CLP will own 100% of the pumped storage company, according to its statement.
The total consideration for CLP's both acquisition will amount to HK$14 billion (US$1.8 billion).
Write to Fiona Law at fiona.law@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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