CLP Holdings Says Talks Discontinued in China Nuclear Plant Bid
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Talks have been discontinued for Hong Kong electricity producer CLP Holdings Ltd. to buy a 4.8 billion yuan ($784 million) stake in a Chinese power plant following regulatory delays after Japan’s nuclear crisis.
Shareholder China General Nuclear Power Corp. told CLP this week that the deal wouldn’t go ahead “for the time being,” CLP said in a Hong Kong stock exchange filing yesterday. CLP agreed in 2011 to buy the 17 percent stake in the Yangjiang Nuclear Power Station in southern China’s Guangdong province.