China and Mergers + Acquisitions
China Resources Power Holdings Company acquires coal mine in China’s Shanxi Province from major Thailand-based natural resources company Banpu Public Company Limited
Hong Kong, March 28, 2011 – Morrison & Foerster advised China Resources Power Holdings Company Limited ("CR Power") in its US$669 million acquisition of a 56% stake in Daning coal mine in Shanxi Province, northern China from Banpu Public Company Limited, a major Thailand-based natural resources company. The acquisition is part of CR Power's efforts to secure and expand it coal supply base for its power generation business.
CR Power is a Hong Kong Main Board-listed company and the flagship subsidiary of China Resources Holdings engaged in the investment, development, operation and management of power plants. CR Power is also a constituent company for the Hang Seng Index.
Morrison & Foerster's Hong Kong office managing partner Ven Tan led the transaction team.
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