China's Huaneng Power Intl shareholders approve purchase of SinoSing Power

Tue. June 24, 2008; Posted: 07:07 PM

BEIJING, Jun 25, 2008 (XFN-ASIA via COMTEX) -- HNP | Quote | Chart | News | PowerRating -- Huaneng Power International Inc (SHA 600011; HK 0902; NYSE HNP) said its shareholders have approved its plan to buy 100 pct of Singapore-based SinoSing Power Pte Ltd from state-owned parent Huaneng Group for 985 mln usd.

The transaction is expected to be completed before June 30, the company said earlier.

The deal is subject to approvals from China's National Development and Reform Commission, the Ministry of Commerce and the foreign exchange regulator.

In March, SinoSing Power bought 100 pct of electricity generating company Tuas Power, which was previously controlled by Singapore investment company Temasek Holdings, in a 4.24 bln sgd deal.

(1 usd = 6.9 yuan; 1.37 sgd)

ivy.cheng@xfn.com

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For full details on Huaneng Power Intl Inc (HNP) click here. Huaneng Power Intl Inc (HNP) has Short Term PowerRatings of 5. Details on Huaneng Power Intl Inc (HNP) Short Term PowerRatings is available at This Link.

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