China WindPower Seeks $76 Million From Sale of 51% Stake in Wind-Farm Unit
China WindPower Group Ltd. (182) will sell its 51 percent stake in an indirectly owned subsidiary that manages wind-farm projects in Gansu province for about 495 million yuan ($76 million), according to a filing to the Hong Kong stock exchange today.
China WindPower will sell the stake to Shenzhen-listed energy company Jilin Power Share Co. and Jilin CPI Gether New Energy Co., a joint venture between Jilin Power and China WindPower, the statement said. The disposal will help China WindPower leverage the experience and resources of Jilin Power, it said.
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