China Three Gorges will be working with advisors to set up a new company to group the international assets held by the Chinese state-owned group.
China Three Gorges is considering implementing a new strategy for its portfolio of international assets, reports Bloomberg, cited by Jornal de Negócios.
The news agency, which cites knowledgeable sources of the process, says that the Chinese state-owned company that controls 23% of EDP’s capital will be working with advisors in the constitution of a new company that groups the international assets. The plan may involve allowing the entry of strategic investors in this holding company, paving the way for a subsequent dispersion of capital on the stock exchange.
Bloomberg also notes that China Three Gorges will still be in a preliminary phase of evaluating these strategic changes and that there are no final decisions on the structure of the new company, as well as its potential assessment.
China Three Gorges will currently have assets outside China valued at 14 billion dollars, according to the news agency’s calculations, following a series of acquisitions in the energy sector in Europe and Latin America in the last decade.