Zhong Lun, Dentons close China Yangtze Power’s RMB80.5bn acquisition

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Zhong Lun Law Firm and Dentons advised in China Yangtze Power’s RMB80.5 billion (USD11.4 billion) acquisition of fellow subsidiary Jinsha River Yunchuan Hydropower Development in the biggest restructuring of A-listed companies so far this year.

Zhong Lun advised China Yangtze Power, a subsidiary of China Three Gorges, with partners Wei Haitao and Jia Chen leading the team supported by partner Guo Kejun and non-equity partner Zhao Haiyang.

Dentons represented China Three Gorges, with senior partner Xu Yongqian leading the team supported by senior partner Zhang Hong.

The transaction is a major project of China’s west-to-east power transmission plan, which aims to balance the country’s electricity supply and demand in different regions.

The installed capacity of China Yangtze Power will increase by 57.5% to 71.795 million kilowatts after the project’s completion.