浙能電力(600023.SH)：浙能SPV須對錦江環境其餘44.81%股東發出收購要約
格隆匯 10 月 12日丨浙能電力(600023.SH)公佈，公司的全資子公司ZHEJIANG ZHENENG ELECTRIC POWER INVESTMENT (HK) LIMITED (浙江浙能電力投資(香港)有限公司）(“浙能SPV”或“受讓方”)完成收購新加坡上市公司Zheneng Jinjiang Environment Holding Company Limited (浙能錦江環境控股有限公司)(“錦江環境”)25.62%股份後，與關聯方浙江能源香港控股有限公司(“浙能香港”)共同持有錦江環境超過30%的股份，根據新加坡《兼併守則》(Singapore Code on Take-overs and Mergers)的規定，浙能SPV須對除浙能香港以外的其他錦江環境股東發出收購要約。
鑑於浙能SPV收購錦江環境25.62%股份完成後，與關聯方浙能香港共同持有錦江環境超過30%的股份，根據新加坡《兼併守則》的規定，浙能SPV須對錦江環境其餘44.81%股東發出收購要約。要約價格與浙能SPV受讓錦江環境25.62%股份所支付的每股單價一致，即每股0.7781新加坡元。
截至2020年6月末，浙能電力歸屬於母公司淨資產636.14億元人民幣，貨幣資金餘額為167.33億元人民幣，資產負債率35.63%。浙能電力目前的資金狀況能夠滿足此次要約收購的資金需求。
此次要約收購完成後，若符合相關退市條件，則錦江環境將從新加坡證券交易所退市。
錦江環境所處的垃圾焚燒發電行業具有廣闊發展空間。浙能電力通過受讓錦江環境25.62%的股份並觸發要約收購，將快速進入垃圾發電領域並形成規模，符合浙能電力轉型升級和戰略發展方向。
錦江環境在全國垃圾發電領域規模靠前，通過多年運營，積累了豐富的電廠資源。垃圾電廠存在鄰避效應，新項目落地難度較大，錦江環境已投運電廠多位於大中型城市，部分是當地唯一的垃圾電廠，資源價值較為稀缺。
垃圾發電行業與浙能電力發電主業具有產業協同效應。錦江環境可塑性強、提升空間大，藉助浙能電力在資金、技術、管理方面的優勢，可進一步提高錦江環境的運營水平，加快技術改造，推動垃圾發電業務提質增效、做大做強。從長期來看，垃圾發電將成為浙能電力新的業務發展方向，具有較好的增長潛力。
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