Fujian Mindong Electric to buy 86.1% in Yingkou Wind Power

(ADPnews) - Dec 3, 2010 - Chinese hydropower company Fujian Mindong Electric Power Ltd (SHE:000993) will acquire an 86.13% stake in Yingkou Wind Energy for as much as CNY 73.4 million (USD 11m/EUR 8.3m), seeking to expand into the wind sector in northeastern China.

The company said it would buy nearly 59 million of Yingkou Wind's stock for CNY 1.25 apiece. The remaining 13.87% stake will be in the hands of Yingkou Electric Power Development.

Yingkou Wind operates 45 MW of wind installations in the Liaoning province in northeastern China.

(CNY 1.0 = USD 0.150/EUR 0.113)

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