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Huadian Energy to Acquire Power Company in Heilongjiang for $57.5 Million

Huadian Energy Co. plans to pay 389.4 million yuan to acquire a Chinese power company in the northeastern province of Heilongjiang from Qiqihaer Xinbao Heating & Power Co. and Singapore-based Asia Power Corporation Ltd., according to a statement to the Shanghai Stock Exchange.

Huadian expects a 148 million yuan loss in the first half on a surge in coal prices, the Chinese electric company said in a separate statement.

To contact the reporter on this story: Zhe Huang in Beijing at zhuang37@bloomberg.net

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