Brief: China Recycling Energy Buys 20 Pct Equity Interest In Xi'An Xinhuan Energy Co Ltd

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02/10/2018 13:20

Oct 2 (Reuters) - China Recycling Energy Corp  CREG.O :
    * CHINA RECYCLING ENERGY CORP. ANNOUNCES THE ACQUISITION OF
A 20%
EQUITY INTEREST  IN XI’AN XINHUAN ENERGY CO., LTD.
    * CHINA RECYCLING ENERGY CORP - SHANGHAI TCH IS ACQUIRING
20% OF
EQUITY INTERESTS OF XINHUAN FOR AN AGGREGATE PURCHASE PRICE OF
RMB 320 MILLION
    * CHINA RECYCLING ENERGY - UPON ACQUISITION,  EXPECT XINHUAN
TO
ADD ABOUT RMB 20 MILLION AS INVESTMENT INCOME TO CO UNDER EQUITY
ACCOUNTING METHOD EACH YEAR
    * CHINA RECYCLING ENERGY - PURCHASE PRICE WILL BE PAID IN
CASH RMB
60 MILLION, 2.6 MILLION SHARES OF CO'S COMMON STOCK AT $1.90 PER
SHARE & PREFERRED STOCK

Source text for Eikon:  ID:nGNX6M86qZ 
Further company coverage:  CREG.O 

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