Power group EVN to withdraw capital from five companies

HÀ NỘI — The country’s largest power group Việt Nam Electricity (EVN) has announced it will divest from five companies in August.

The group will be withdrawing from the Power Engineering Joint Stock Company, EVN Finance Joint Stock Company, Thuận Bình Wind Power Joint Stock Company (TBW), Power Engineering Consulting Joint Stock Company 3 (PECC3) and Power Engineering Consulting Joint Stock Company 4 (PECC4).

In July, EVN hired consultants to value and document its investment in EVN Finance, and urged representatives to complete its withdrawal plan from PECC3 and TBW.

Earlier this year, EVN withdrew from Thủ Đức Electro-Mechanical Joint Stock Company (EMC) and conducted an IPO for Power Generation Corporation 3 (EVNGENCO3).

The company will also continue equitisation procedures at its Power Generation Corporations 1 and 2 in compliance with regulations.  — VNS