Lin Yang Energy (601222.SH) announced that the company and its subsidiaries intend to cooperate with Shanghai Xirong New Energy Co., Ltd. (“...
Zhitong Finance App News, Lin Yang Energy (601222.SH) announced that the company and its subsidiaries intend to sign a project merger and acquisition framework agreement (“framework agreement”) with Shanghai Xirong New Energy Co., Ltd. (“Xirong New Energy”) to transfer 100% of the shares held in 18 wholly-owned subsidiaries to Xirong New Energy, with a total equity transfer consideration of 1,183 billion yuan. The first batch of “Equity Transfer Agreements” for the 10 target companies in the framework agreement is to be signed together when the framework agreement is signed. The total transfer consideration is 356 million yuan.
It is reported that in order to further optimize the power plant asset structure, reduce renewable energy subsidies in accounts receivable, improve the efficiency of capital use, and strengthen cooperative relationships with partners, the company plans to implement this transaction. The transaction involved some companies' first non-public stock offering, second non-public offering of shares, and public issuance of convertible bonds to raise capital projects.