China’s ENN Energy Valued at $11.6 Billion in Privatization Offer

Chinese gas and clean energy distribution firm ENN Energy Holdings Limited has been valued at around US$11.6 billion (HK$90.50 billion) under a privatization offer from another ENN affiliate, the companies involved in the proposed transaction said on Wednesday. Under the proposed deal, ENN Natural Gas – one of the affiliate companies of ENN Energy part of the ENN Group of Chinese billionaire businessman Wang Yusuo – will buy the remaining stake in ENN Energy it does not already hold. ENN Natural Gas currently owns 34.28% in ENN Energy.…