China Guodian executive confirms merger with Shenhua Group

摘要

Shenhua Group Corp. Ltd. and China Guodian Corp. have submitted a merger plan between the two state-owned majors to the country’s State Council, Chinese news agency Jiemian reported Aug. 2, citing a speech given by Guan Weizhu, head of safety production at China Guodian, at an alternative energy conference. Guan said that the new group will be tentatively named National Energy Investment Group, with total assets estimated at over 1.8 trillion yuan and a debt ratio of more than 60%.