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Peabody Energy to acquire 6% stake in GreenGen

Posted on: Wed, 18 Nov 2009 13:50:00 EST

Symbols: BTU

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Nov 18, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
BTU | Quote | Chart | News | PowerRating -- Peabody Energy Corporation, a US-based coal company, has executed a joint venture agreement to acquire a 6% equity stake in GreenGen Co., Ltd., a China-based power project. Following the acquisition, Peabody Energy will become an equity partner in GreenGen.

GreenGen's shareholders include majority shareholder China Huaneng Group with a 51% stake, China Datang Corporation, China Huadian Corporation, China Guodian Corporation, China National Coal Group Corporation, China Power Investment Corporation, China Shenhua Group and State Development and Investment Corporation. Except China Huaneng, all the remaining partners hold 7% stake each in GreenGen.

Deal Type    Acquisition
Sub-Category Minority Acquisition
Deal Status  Announced: 2009-11-17

Deal Participants

Target (Company)   GreenGen Co., Ltd.
Acquirer (Company) Peabody Energy Corporation

% Acquisition 6%

For full details on Peabody Energy (BTU) BTU. Peabody Energy (BTU) has Short Term PowerRatings at TradingMarkets. Details on Peabody Energy (BTU) Short Term PowerRatings is available at This Link.

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