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Thailand tells China Light and Power to sell shares in BLCP Power.
Byline: Yuthana Praiwan
Sep. 2--The Electricity Generating Plc (Egco) has demanded that Hong Kong's CLP (China Light and Power Asia ) sell half of its share in BLCP Power at fair and reasonable price based on a shareholding agreement signed in 1997 between the Electricity Generating Authority of Thailand (Egat), Egco's major shareholder and CLP.
Under the agreement, Egco and CLP would invest equally or allow Egco to buy shares at a fair and reasonable price in power plant ventures in Thailand and neighbouring countries in exchange for CLP's purchase of Egat's shares in Egco.
If the agreement was honoured, an industry source said CLP would sell ...
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