
Shenhua to buy $1.3B assets from parent company
China Shenhua Energy will purchase US$8.7 billion worth of coal and power assets from its parent, Shenhua Group Corporation. These assets are owned by 10 companies under the Shenhua Group.
After the purchase is completed, China Shenhua Energy will have recoverable coal reserves of 14 billion tons, up 20.98 percent from its current reserves.