Heavy Electrical Equipment

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Leighton Holdings signs agreement to sell John Holland to China Communications Construction Co subsidiary

Thursday, 11 Dec 2014 04:55pm EST

Leighton Holdings Ltd:Enters a binding agreement for the sale of John Holland to CCCC International Holding Ltd, a wholly-owned subsidiary of China Communications Construction Co.CCCI will purchase John Holland for an enterprise valuation of about A$1.15 bln subject to certain adjustments.

Pioneer Power Solutions acquires control of Titan Energy Worldwide, Inc

Tuesday, 2 Dec 2014 03:06pm EST

Pioneer Power Solutions Inc:Announces acquisition of control of Titan by subsidiary of Pioneer.Purchase of new series of super-voting convertible preferred stock, Pioneer acquired voting control and right to appoint sole seat on Titan's board of directors.By end of Dec, Pioneer intends to purchase the remainder of Titan's preferred stock and debt from existing holders, followed by a statutory merger between Titan and a newly formed acquisition subsidiary of Pioneer.Titan will then cease to exist as a publicly-traded company and its common shareholders will receive cash of $0.0007 per share.Pioneer preliminarily values the purchase price for the transaction at $6.8 mln, which value includes the purchase of Titan's equity and the estimated cost to purchase and/or repay all of Titan's debt.The cash portion of the purchase price, together with an initial working capital infusion into Titan, are being financed by Pioneer through new borrowings under Pioneer's existing bank credit facilities.A portion of purchase price is also being financed through the issuance of about 300,000 shares of Pioneer's common stock to holders Titan's preferred stock and notes.

Changshu Fengfan Power Equipment Co Ltd to invest in company

Thursday, 27 Nov 2014 07:00pm EST

Changshu Fengfan Power Equipment Co Ltd:To invest 2.65 bln yuan in a 16.67 pct owned energy company to acquire 3,312,500 shares of the energy company at price of 8 yuan per share.Says to become controlling shareholder of the energy company after increase capital in it.

Tianjin-based company to acquire stake in Tianjin Benefo Tejing Electric Co Ltd through subsidiaries

Friday, 14 Nov 2014 07:00pm EST

Tianjin Benefo Tejing Electric Co Ltd:Says two wholly owned subsidiaries of a Tianjin-based mechanical equipment company to acquire 63.03 pct stake (287,559,381 shares) in the company.Tianjin-based company to indirectly hold 63.03 pct stake in the company.

Hydrogen Engine Center acquires TINA Energy Systems

Thursday, 6 Nov 2014 04:42pm EST

Hydrogen Engine Center Inc:Announced that they have entered into an agreement of terms for the acquisition of assets of TINA Technologies.After product testing and closing the transaction, the companies believe they are poised to move forward with production and distribution of integrated modular units, under the name HEC-TINA beginning Q1 2015.Business operations for HEC-TINA will be conducted through a wholly owned subsidiary to be organized prior to closing.As payment for the TINA assets, HEC will issue to TINA warrants to purchase 7,000,000 Shares exercisable before July 11, 2015 at a price of $0.15 per Share and warrants to purchase 6,000,000 Shares exercisable before July 11, 2016 at a price of $0.20.In addition, HEC agrees to issue to TINA, and TINA agrees to purchase, 6,000,000 Shares at a price of $0.25 per Share.


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