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Guodian-Shenhua Coal merger: China to create world's largest power company

Shenhua Group Corp Ltd will take over China Guodian Group Corp

Reuters  |  Beijing 

China's top coal miner Shenhua Group Corp Ltd will take over China Guodian Group Corp, among the country's top five state power producers, in a deal that will create the world's largest power utility worth $278 billion. The companies have been in talks about a merger for several months as Beijing aims to shake up its indebted and inefficient state sector, streamline the number of companies and create globally competitive firms in sectors including power generation, shipping and metals. The Guodian-Shenhua deal was announced on Monday by China's State-owned Assets ...

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First Published: Tue, August 29 2017. 10:28 IST
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