Jiangsu Longzhe Technology and Trade Development and has agreed to acquire a 77% stake in Diamond Power Infrastructure through equity and debt.
As per the agreement, Jiangsu Longzhe Technology and Trade Development will initially acquire a 26% stake and subsequently raise it to 51% through an open public offering. The company will pay Diamond Power Infrastructure $25m as equity and $100m as debt as part of the transaction.
Beacon Electric Assets Holdings has announced its plan to divest a 8.7% stake in Manila Electric Company (Meralco) to interested investors.
The transaction is expected to be completed in the first half of 2017.
Unified Power Corporation has completed the acquisition of Critical Power USA, formerly System Engineering International.
Critical Power’s employees will now become part of Unified Power, leveraging its service coverage across the East Coast from Maine to Florida.
Unified Power Corporation provides critical power services and solutions, including emergency services, installation services, preventive maintenance services, battery replacement, capacitor replacement, demand maintenance, and first responder training.