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China Everbright in HanKore Water Agreement Plans Majority Stake

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Dec. 31 (Bloomberg) -- China Everbright International Ltd., a developer of water and environmental protection projects, plans to inject all water-industry investments into HanKore Environment Tech Group Ltd. in exchange for a majority stake in the company, according to a Hong Kong exchange filing.

China Everbright signed a framework agreement with Singapore-listed HanKore, which will issue consideration shares at S$0.0703 each and become a subsidiary on completion of the accord, according to the statement. Terms will be finalized following due diligence and the signing of a definitive agreement, China Everbright said.

Link to Statement:{NSN MYMHLQ3PWT1C <GO>}

To contact the reporter on this story: Joshua Fellman in New York at jfellman@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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