China’s State Grid gains 8.15 pct stake in Huaxia Bank from subsidiary
Shandong Electric Power Corp has transferred its entire 8.15 pct stake in Huaxia Bank to parent State Grid Corp, one of China’s two state-owned power transmission firms, Huaxia Bank said.
Following the stake transfer, the State Grid will replace Shandong Electric Power as the second-largest shareholder in the bank, Huaxia Bank said.
The deal is subject to [...]