Shenzhen Expressway enters agreement to buy Nanjing Wind Power

The Shenzhen Expressway Co Ltd has announced that it has entered into an Acquisition Agreement with Nanjing Wind Power. Pursuant to the Acquisition Agreement, Shenzhen Expressway Co Ltd shall acquire 30% equity interest in Nanjing Wind Power at the consideration of CNY210 million (US$30.4 million), and make a one-way contribution of CNY300 million (US$43.44 million) into Nanjing Wind Power after completion of the acquisition. Shenzhen shall then hold 51% equity interest in Nanjing Wind Power.

Nanjing Wind Power is active in the research and development (R&D), manufacture, installation and maintenance of wind turbines, as well as in the investment in and operation of wind farms.