Press Release

J.P. Morgan First Capital acted as Financial Advisor (called “Independent Financial Advisor" by the Chinese Take-over Code.) to Shenzhen Energy Group Co., Ltd. on its merger with Shenzhen SE Energy Management Co., Ltd. by absorption.

J.P. Morgan First Capital acted as  Financial Advisor (called “Independent Financial Advisor" by the Chinese Take-over Code.) to Shenzhen Energy Group Co., Ltd. on its merger with Shenzhen SE Energy Management Co., Ltd. by absorption.

On Feb. 6, 2013, Shenzhen Energy Group Co., Ltd. (“SEC” or “the Company”), one of the largest independent power producers (“IPP”) in China, announced that it has successfully completed the merger with Shenzhen SE Energy Management Co., Ltd. (the Company’s parent company) by absorption. The total consideration is RMB10.41 billion, which will be satisfied by (i) as to RMB16.86 million in cash; (ii) as to RMB10.39 billion by the issuance of 1,684,644,423 primary shares at the price of RMB 6.17 per share. The transaction constituted a “material assets restructuring” for the Company and it was approved by CSRC on Jan 5, 2013.The newly placed shares were listed on Feb. 8, 2013.

The completion of the transaction has enabled the Company to optimize its shareholding structure and to further enhance its corporate governance.

J.P. Morgan First Capital acted as the Financial Advisor to the Company.

This transaction has marked the first domestic M&A deal completed by JPMFC. It is also the first transaction successfully executed by JPMFC team for a well-known large-cap state-owned enterprise. The deal was executed with an accelerated timetable from the kick off in June 2012 to the completion in February 2013. It has demonstrated our commitment to the long-term client relationship, our ability in covering large SOE clients and our ability in executing complicated domestic M&A deals.