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September 4, 2013
09:13 EDTCHCChina Hyroelectric receives non-binding acquisition proposal at $2.97 per ADS
China Hydroelectric has received a preliminary non-binding proposal letter from NewQuest Capital Partners, through its affiliated entity, CPI Ballpark Investments according to which NewQuest is interested in acquiring all of the company's outstanding ordinary shares, at a price of 99c in cash per ordinary share or $2.97 in cash per ADS. NewQuest currently owns approximately 49.83% of the company's total outstanding ordinary shares. NewQuest also holds options and warrants to acquire ordinary shares of the company, which, if exercised in full, would increase its ownership to approximately 56.8%. NewQuest's proposal is subject to negotiation and execution of definitive agreements relating to the proposed transaction. The board of directors has not made any decisions with respect to the company's response to the proposal.
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