December 29, 2017 / 11:00 AM / 8 months ago

BRIEF-Shenzhen Fountain says restructuring between unit and hydropower investment firm

Dec 29(Reuters) - Shenzhen Fountain Corp

* Says co will inject property development unit’s (firm 1)assets, a Fuzhou-based development investment firm and an individual (counterparty) will inject hydropower investment firm’s (firm 2) assets, into a Shenzhen-based energy investment and development firm (target firm) respectively

* Says target firm was established by the co before the assets injection (restructuring)

* Says co and counterparty will hold a 90 percent stake and a 10 percent stake in target firm respectively and the target firm will hold firm 1 and firm 2 after restructuring

* Says target firm will be mainly engaged in clean energy related business

Source text in Chinese: goo.gl/yCe8Kk

Further company coverage: (Beijing Headline News)

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