Utilities - Electric
Transmissora Alianca de Energia Eletrica SA Announces Approval of Incorporation of Wholly-Owned Subsidiary
Transmissora Alianca de Energia Eletrica SA announced that, following information disclosed to the market on June 13, 2013, Extraordinary General Meeting of the Company held on June 28, 2013 approved incorporation of its wholly-owned subsidiary, ATE II Transmissora de Energia SA.
Sembcorp Industries Ltd Winds Up Dormant Subsidiary
Sembcorp Industries Ltd announced that its dormant subsidiary, SUT Sakra, has been placed under Members’ Voluntary Liquidation. Robert Yam & Co has been appointed as the liquidator for this subsidiary.
Centrais Eletricas Brasileiras SA Announces Merger by Incorporation of Its Subsidiaries
Centrais Eletricas Brasileiras SA announced that its subsidiary, Eletrosul Centrais Eletricas SA, on May 29, 2013 approved merger by incorporation of its wholly-owned subsidiaries Eolica Cerro Chato I SA, Eolica Cerro Chato II SA, Eolica Cerro Chato III SA, Porto Velho Transmissora de Energia AS and Transmissao de Energia do Rio Grande do Sul SA. The Company holds a 99.75% stake in the share capital of Eletrosul Centrais Eletricas SA.
Guangdong Baolihua New Energy Stock Co Ltd Discontinues Real Estate Business; to Sell Properties
Guangdong Baolihua New Energy Stock Co Ltd announced that it has decided to discontinue its real estate business. The Company will use one piece of land to establish its own office building. The Company will sell six plots of land, measured 662,942 square meters in total, to Guangzhou R&F Properties Co Ltd. for RMB 867,138,960, as well as five other plots of land, measured 359,953 square meters, to Guangdong Strong Group Co., Ltd. for RMB 484,336,188.
Transmissora Alianca de Energia Eletrica SA Announces Incorporation of Wholly-Owned Subsidiary
Transmissora Alianca de Energia Eletrica SA announced on June 12, 2013 incorporation of its wholly-owned subsidiary, ATE II Transmissora de Energia SA. The transaction will be submitted to approval of the general meetings of the Company and ATE II Transmissora de Energia SA.
Enel Green Power SpA Announces Project of Merger by Incorporation of Enel Green Power Portoscuso Srl into the Company
Enel Green Power SpA announced that it has filed with the Rome Trade Register the project for the merger by incorporation of Enel Green Power Portoscuso Srl into the Company. The project for the merger was approved on June 11, 2013 by the governing bodies of both companies. The transaction will allow to achieve a higher operational efficiency and a simplification of the administrative processes, as well as to benefit of the consequent reduction of the operating costs. Enel Green Power Portoscuso is a wholly owned subsidiary of Enel Green Power and the merger will be subject to the approval of the Board of Directors under the simplified procedure provided for by art. 2505 of the Italian Civil Code and by art. 19 of the Company's Bylaws. The merger will start having legal effects, according to the applicable laws, when the last of the registrations of the deed of merger in the Trade Register has been undertaken or starting from the different date that will be established in the deed of merger. The accounting and tax effects, on the other hand, will be charged on the financial statements of the surviving company with retroactive effect from January 1, 2013.
Guangdong Shaoneng Group Co Ltd to Change Branch into Subsidiary
Guangdong Shaoneng Group Co Ltd announced that it will change its Shaoguan-based biomass branch into a wholly owned subsidiary with a registered capital of RMB 300 million. The new subsidiary will undertake a biomass power generation project instead of the branch.
Fortum Oyj Announces Possible Discontinuation of Entire Production Operations at Inkoo Coal-Fired Power Plant and Starts Employee Negotiations
Fortum Oyj announced that the Company aims to assess the future alternatives for its Inkoo coal-fired power plant located on the south coast of Finland. The alternatives assessed include the partial closure of the power plant or even discontinuing the entire production operations, among others. Consequently, Fortum will start employee negotiations affecting all Inkoo power plant personnel. The negotiations will begin on June 12, 2013 and will last at least six weeks. There are a total of 90 employees at the power plant.
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Sector Summary
| Energy |  -0.01% |
| Basic Materials | -0.88% |
| Industrials | -0.61% |
| Cyclical Goods & Services |  +0.03% |
| Non-Cyclical Goods & Services | -0.23% |
| Financials | -0.23% |
| Healthcare | -0.43% |
| Technology | +0.04% |
| Telecoms | +0.08% |
| Utilities | -0.64% |
| DOW | 14,932.41 | -42.55 |
-0.28% |
| S&P 500 | 1,614.08 | -0.88 |
-0.05% |
| NASDAQ | 3,433.40 | -1.09 |
-0.03% |
| TR US Index | 146.52 | -0.13 |
-0.09% |
Analyst Research
| Report Title | Price |
|---|---|
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Provider: Brown Brothers Harriman & Co.
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$12.00
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Provider: Brown Brothers Harriman & Co.
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$12.00
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Provider: Brown Brothers Harriman & Co.
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$35.00
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Provider: Brown Brothers Harriman & Co.
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$35.00
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Provider: Brown Brothers Harriman & Co.
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$23.00
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