M&As this week: China Three Gorges Corporation and Spark Energy

25 August 2016 (Last Updated August 25th, 2016 18:30)

China Three Gorges Corporation has reached an agreement with Blackstone Group to acquire its subsidiary BCP Meerwind Luxembourg in exchange for €645.4m ($730.6m).

China Three Gorges Corporation has reached an agreement with Blackstone Group to acquire its subsidiary BCP Meerwind Luxembourg in exchange for €645.4m ($730.6m).

As part of the transaction, sister company China Three Gorges International (Europe) will acquire a 70% stake in BCP Meerwind Luxembourg. In addition, a further subsidiary of China Three Gorges Corporation, China Yangtze Power International (Hong Kong) will acquire the remaining 30% stake.

Furthermore, China Three Gorges will also own an 80% stake in WindMW, which operates a 288MW offshore wind park in Germany.

Inner Mongolia Mengdian Huaneng Thermal Power has reached an agreement with North United Power Corporation to acquire the a 81.25% stake in Inner Mongolia North Longyuan Wind Power in exchange for $714m.

Spark Energy has completed the acquisition of Major Energy Services (Major Energy), which is involved in the supply of electricity and natural gas to residential and commercial customers in six states and more than 40 Utility Service Areas in the US.