HIPDCHuaneng International Power Development Corporation (China)
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The Company will purchase the HIPDC Interests for RMB1, 938,178,900.
The Transaction was completed recently, whereby the Company paid 50% of the consideration of the Transaction to Huaneng Group and HIPDC, respectively, pursuant to the Transfer Agreements on January 8, 2015.
The Company's Board of Directors approved the transactions at a meeting on October 13, 2014, and the Company entered into the Huaneng Group Transfer Agreement, the HIPDC Transfer Agreement and the Chaohu Power Transfer Agreement on the same day.
HPI has been strictly separate from both Huaneng Group and HIPDC in terms of assets and financial matters, and the transactions will not cause any change to such status.
This amendment would increase the total number of shares offered by Huaneng Group and HIPDC in connection with this reform from 140,000,000 shares to 15,000,000 shares.