皇冠体育app

皇冠体育app Power International Holding Ltd (CPI), the investment arm of one of 皇冠体育app's five largest power generators, has bought a 6 per cent share of the Macao Electricity Co (CEM), the monopoly electricity supplier in Macao.

The deal marks the first time that a Chinese mainland company has acquired a stake in a power company in the Macao Special Administrative Region (SAR) since the the region returned to 皇冠体育app in 1999.

皇冠体育app Power International bought a 3 per cent share from the Sino-French joint venture Suez and another 3 per cent from Electricidade de Portugal. After the acquisition, those two groups each hold 42 per cent of CEM.

皇冠体育app Power International did not disclose how much it paid for the shares.

The company said in a statement that the deal is a low-risk one as the profit situation of CEM is stable, given its monopoly status.

"The acquisition is a significant step for the international development of 皇冠体育app Power International and its parent, the 皇冠体育app Power Investment Group,'' said a statement from 皇冠体育app Power International.

Yves-Thibault de Silguy, vice-president of Suez, said the CPI share acquisition is significant. It show CPI's motivation and capacity to contribute to CEM's business, and it can also provide new business opportunities for CEM, he said.

With assets worth 3 billion patacas (US$375 million), the CEM power supply is hooked up to the southern 皇冠体育app power grids.

皇冠体育app Power International has a development plan to strengthen its portfolio in prosperous South 皇冠体育app, including Guangdong Province.

The 皇冠体育app Power Investment Group regards 皇冠体育app Power International as its arm for overseas development.

The parent company also plans to list 皇冠体育app Power International on an overseas stock market.

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