Shareholders of China Hydroelectric Corporation (CHC) have approved a deal announced earlier this year that will see CHC become a wholly owned subsidiary of CPT Wyndham Holdings Ltd.
In January, it was announced that CPT Wyndham Holdings Ltd and CPT Wyndham Sub Ltd has entered into definitive agreement and plan of merger with CHC that involved CPT Wyndham acquiring CHC for US$1.17 per ordinary share or US$3.51 per American Depositary Share, each representing three ordinary shares. The deal would merge CPT Wyndham Sub Ltd with CHC, with the company continuing to operate as a private subsidiary.
With shareholder approval, CHC said it expects the deal to complete within the month, subject to certain conditions.
