NewQuest Lobs Takeover Bid At Chinese Power Developer

Law360, New York (September 4, 2013, 4:14 PM EDT) -- China Hydroelectric Corp., an owner and developer of hydroelectric power projects in China, has received a preliminary takeover bid from NewQuest Capital Partners offering roughly $1 per share, China Hydroelectric's board said Wednesday.

NewQuest, which already owns 49.83 percent of China Hydroelectric, offered to pay $0.99 per ordinary share and $2.97 per American Depositary share in cash. The Hong Kong-based private equity firm noted in a U.S. Securities and Exchange Commission filing Sept. 4 that it currently holds options and warrants that, if exercised, would bump...
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