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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.