Brief: GCL New Energy Holdings Announces Disposal Of Subsidiaries

Dynasty Digital Holdings

19/11/2020 13:41

Nov 19 (Reuters) - GCL New Energy Holdings Ltd  0451.HK :
    * SELLERS TO SELL ENTIRE STAKE IN BAOYING XINYUAN, DELINGHA
CENTURY CONCORD, DELINGHA ENERGY POWER, AND OTHER SUBSIDIARIES
    * NET CASH PROCEEDS FROM TRANSACTIONS EXPECTED TO BE RMB2.01
BILLION
    * SELLERS TO SELL 56.51% EQUITY INTEREST IN YILI GCL ENERGY
LTD
    * SELLERS TO SELL 51% EQUITY INTEREST IN YUNCHENG XINHUA
ENERGY
DEVELOPMENT CO
    * INTENDS TO USE EXPECTED NET CASH PROCEEDS FOR REPAYMENT OF
ITS
DEBTS

Source text https://bit.ly/2IGOdap
Further company coverage:  0451.HK 

 ((Reuters.Briefs@thomsonreuters.com;))