CHINA HUANENG GROUP RAISES STAKE IN MONGOLIA POWER CO.

(From Asia Pulse)

$all $cn $utl $enr $mg

BEIJING, June 23 Asia Pulse - The nation's biggest power producer, the China Huaneng Group (CHNG), yesterday became the largest shareholder of the Inner Mongolia-based North United Power Co Ltd (NUPC), increasing its shareholding from 20 per cent to 51 per cent.

The other three shareholders were the Inner Mongolia Power Investment Corp (IMPIC), the Shenhua Group Corp and the Hong Kong-based CITIC Pacific, company sources said.

Under the agreement reached by the four companies, IMPIC's shares in NUPC have now fallen to 9 per cent from the previous controlling 40 per cent, while Shenhua and CITIC …