China Shenhua Energy Co., the nation's largest coal producer, said it will pay 870 million yuan (US$114 million) for stakes in two power plants.
Shenhua will buy the stakes in power plants owned by the State Grid Corp. of China, the bigger of the nation's two electricity transmitters, the company said in a statement published in Hong Kong's South China Morning Post newspaper today.
Shenhua will pay 480 million yuan for a 15 percent stake in Panshan Power and 390 million yuan for 15 percent of Suizhong Power, the company said.
