5.2 billion acquisition of Yantan 70% Equity Crown Power today re-licensing

Each reporter Zhouxiaofang lasted 3 years, Laurel Power (600236, closing price of 9.39 yuan) the major assets reorganization plan dust settles, as early as 2006, the Laurel Power holding shareholder Datang Group in the Laurel Power reform program promised to inject hydropower assets in Yantan.　　Today, the Laurel Power will be a duplicate.　　The reporter received yesterday, "Guangxi Laurel Power Co., Ltd. to China Datang Corporation issued shares to buy assets and related transaction plan," the Crown power to the non-public issue of shares and pay cash to combine the way, the acquisition of the company's controlling shareholder-Datang Group held a 70% stake in the company of Yantan.　　According to the reorganization plan, Crown power to buy the target assets for the Datang Group has 70% stake in the company and related shareholders equity. Up to the assessment base day, the estimated target assets of about 3.64 billion yuan; the acquisition of Yantan company estimated about 5.2 billion yuan, according to the calculation, the unit installed investment cost of about 4298 yuan/kilowatt, significantly lower than the current market hydropower assets unit installed near million acquisition costs　　, also lower than the previous Yangtze River Power acquisition of the Three Gorges Hydropower unit cost level (about 8532 yuan/kw).　　Upon completion of the reorganization, the total installed capacity of the Crown power has been put into production will be increased from 2.783 million kilowatts prior to the transaction to 3.993 million kw, an increase of 43.48% per cent, and the equity installed capacity increased from 1.9238 million kw prior to the transaction to 2.7708 million kw, with an increase of 44.03% per cent.　　Analysts believe that the restructuring will play a good role in promoting the overall performance of the power, the unit has a higher long-term investment value. 2008, by the generation of the use of the number of hours of decline and high coal prices, the impact of the operation, Crown Power's Heshan power plant loss of about 400 million yuan a year, almost swallowed up all the hydropower profits. With the fall in coal prices in 2009, the Heshan power plant's overall drag on the laurel will be greatly reduced.