CGN Power to Acquire Controlling Stakes in Two Cangnan Nuclear Units for RMB8.3 Billion

An announcement from CGN Power Co ( (HK:1816) ) is now available.

CGN Power Co. has agreed to acquire 46% of Cangnan Nuclear and 51% of Cangnan Second Nuclear from its controlling shareholder, China General Nuclear Power Corporation, for a total cash consideration of about RMB8.347 billion. Upon completion, both target firms will become subsidiaries and their results will be consolidated into CGN Power’s financial statements, deepening the group’s control over nuclear assets.

The deal is classified as both a discloseable and connected transaction under Hong Kong listing rules, triggering reporting, announcement, circular, independent financial advice and independent shareholder approval requirements. An independent board committee and an external financial adviser have been appointed, with an extraordinary general meeting to be convened where the controlling shareholder must abstain from voting, and investors are cautioned the transaction may or may not proceed as it remains subject to conditions.

The most recent analyst rating on (HK:1816) stock is a Sell with a HK$3.20 price target. To see the full list of analyst forecasts on CGN Power Co stock, see the HK:1816 Stock Forecast page.

More about CGN Power Co

CGN Power Co., Ltd. is a PRC-incorporated nuclear power company listed in Hong Kong, focused on developing, operating and investing in nuclear power projects. The group’s core business lies in nuclear electricity generation and related assets, positioning it as a major player in China’s nuclear energy sector and broader power market.

Average Trading Volume: 78,643,419

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$247.1B

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