M&As this week: Recon Wenyuan Cable, Engie North America

9 March 2018 (Last Updated March 8th, 2018 09:39)

Recon Wenyuan Cable plans to acquire a 70% stake in PT Wijaya Karya Industri Energi. 

Recon Wenyuan Cable plans to acquire a 70% stake in PT Wijaya Karya Industri Energi.

Known formerly as Jiangsu New Yuancheng Cable, Recon Wenyuan Cable intends to complete the transaction through a share issue.

PT Wijaya Karya Industri provides energy-saving and renewable energy services, while Recon Wenyuan Cable is a Chinese wires and cables manufacturer and distributor.

Engie North America has entered an agreement for the acquisition of SoCore Energy.

All the companies involved in the transaction are based in the US.

“Henan Senyuan Electric has signed an agreement to acquire an 85% stake in Liaoning Rongxin Xingye Power Technology.”

Engie North America is a power generation company, while SoCore Energy is a developer of commercial, industrial, and distributed solar and storage.

The acquisition will be made from power generation and distribution company Edison International.

Engie North America expects the acquisition to help expand its solar portfolio in the US.

Henan Senyuan Electric has signed an agreement to acquire an 85% stake in Liaoning Rongxin Xingye Power Technology from Montnets Rongxin Technology Group.

Based in China, Henan Senyuan Electric manufactures and sells electronics, while Liaoning Rongxin Xingye Power Technology manufactures power electronic equipment.

Montnets Rongxin Technology Group intends to supplement its working capital and operating expenses through the transaction.

Dandelion Energy has completed the acquisition of Geo-Connections.

Geo-Connections provides software as a service (SaaS) for the geothermal industry, while Dandelion Energy is a US-based geothermal start-up company.