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Sichuan Hechuan Investment and Anhe Sign the Framework Agreement on the Merger
and Acquisition of Gig Antai Energy Development Limited Company
On July 24, 2019, Sichuan Hechuan Investment Co., Ltd. and Shuifa Anhe Group Co., Ltd. successfully held a meeting in Chengdu on the equity transfer of Sichuan Gig Antai Energy Development Co., Ltd. Shen Lindong, chairman and general manager of Lukong group, Ge Zhaosheng, general manager assistant of Shuifa group, Zhou Yuefei, vice chairman of Shuifa Anhe, Liu Zhaoan, chairman of Sichuan Hechuan Investment company and Tian Jiayuan, general manager attended the meeting.Under the leadership of Shuifa Group, the two sides reached an agreement on equity transfer of Sichuan Gig Antai Energy Development Co., Ltd., and a part of the of Nepal Tundi Power Co., Ltd. held by it, and signed a framework agreement on equity merger and acquisition. Through this agreement, SHIC will start due diligence as soon as possible to promote the progress of M & A.
The purpose of this meeting is to implement the group's development strategy of "improving quality and efficiency, speeding up transforming and upgrading", optimize capital layout and actively promote industrial integration.
It is reported that Sichuan Gig Antai Energy Development Co., Ltd. was founded in September 2013, and has the development rights of Rahughat Mangale hydropower project (installed capacity of 35.5mw, annual power generation of 194.559 GWH) and Upper Rahughat hydropower project (installed capacity of 48.5mw, annual power generation of 267.107 GWH) in Nepal.