China National Nuclear Corp Marouane Fellaini World Cup Jersey , China’s No. 2 nuclear power producer, will take over the country’s top nuclear power plant builder to create a company worth almost US$100 billion, the latest marriage in the nation’s vast power sector.
The deal has been in works for almost a year as Beijing has pushed to streamline its bloated state-owned enterprise sector, tackle rising corporate debt and make businesses more profitable through mergers, reductions in excess capacity and the closure of “zombie” firms.
Approval for the tie-up between CNNC and China Nuclear Engineering & Construction was announced by the State-Owned Assets Supervision and Administration Commission yesterday in a one-line statement posted on its website.
In a filing later yesterday, CNEC’s listed unit said its controlling shareholder will be CNNC after the deal.
The combined company would have assets worth more than 620 billion yuan (US$99 billion) and a workforce of almost 150 Luis Pedro Cavanda World Cup Jersey ,000, according to Reuters’ calculations based on data on the firms’ websites and in company filings.
Beijing wants to overhaul its nuclear sector in order to create globally competitive firms and reduce overcapacity across its broader power market. The nuclear industry is struggling with project delays and a slowdown in approvals for new domestic projects.
By creating a unified home-brand series of reactors, and combining firms, China will be better positioned to bid for and finance overseas projects, experts say.
Both companies have built nuclear plants overseas, including in Pakistan Laurent Depoitre World Cup Jersey , and developing Chinese nuclear technology abroad is a key goal of China’s Belt and Road initiative.
“(The) merger ... will give the new company vast financial firepower to take on the significant capital costs involved in developing new nuclear reactors — both domestically and abroad,” said Georgina Hayden, head of power and renewables at BMI Research.
Last year, the government oversaw the marriage of China’s top coal miner Shenhua Group Corp Ltd with China Guodian Group Corp, among the country’s top five state power producers, to create the world’s largest power company.
This deal will cut the number of SOEs administered by the central government to 97 Laurent Ciman World Cup Jersey , down from 117 in 2012.
(Agencies)
RIO DE JANEIRO, Jan. 30 (Xinhua) -- Flamengo have agreed to sell highly rated striker Felipe Vizeu to Udinese, according to widespread media reports in Brazil.
The Italian club will pay 6.5 million US dollars to secure the 20-year-old on a five-year deal, the Globo newspaper said on Tuesday.
The 20-year-old will fly to Italy to sign a contract this week but is only likely to join Udinese squad in July, it added.
Vizeu, who scored four goals in eight matches for Brazil's under-20 team last year Kevin De Bruyne World Cup Jersey , has netted 17 times in 65 first-team appearances for Flamengo since 2016.
He will join compatriots Danilo and Samir in Udinese's first-team squad.
MADRID, Nov. 4 (Xinhua) -- Real Madrid coach Rafael Benitez has played down the boos and whistles from a sector of the crowd in the Santiago Bernabeu Stadium which were directed at his side.
The boos came as Real Madrid defeated Paris Saint Germain 1-0 on Tuesday night thanks to a Nacho Fernandez goal to assure their place in the last 16 of the Champions League with two group matches to spare.
However, it was a very fortunate victory thanks to a lucky, all be it well taken, goal as PGS dominated Benitez's side in terms of football, possession and chances and were unlucky to see three shots come back off the Madrid woodwork.
The result will only confirm some people's opinion that while Benitez is an excellent organizer Jordan Lukaku World Cup Jersey , who gets results away from home, in the Santiago Bernabeu Stadium where his side should dominate rivals, his style is at times too negative for Real Madrid's fans.
"We've just played against PSG, one of Europe's big sides. I'm happy because we are through to the next round. We won and we knew how to suffer. We're top of the group without having conceded any goals," said Benitez after the match.
The Real Madrid boss even looked for virtue in taking a point against a side which had outplayed his team.
"That only gives more values to the result we got. We've played a good side and beaten them. The team knew how to suffer and work hard, we have improved Jean-Francois Gillet World Cup Jersey ," said Benitez, who nevertheless admitted the "team needs to keep improving."
"We have qualified and we have done so with players out injured," he insisted.
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Training was negligible when likened with today. These days a world-beating team like that would be unimaginable under those circumstances. However, it is still possible to become an adept athlete with decent nutrition even if you might not get to be world champion.
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