Zhongshan Public Utilities Group (SHE:000685) received approval from authorities in China's Zhongshan Municipalitly for the disposal of two subsidiaries, according to a Shenzhen bourse filing on Friday.
Changqing Environmental Energy (Zhongshan) and Zhongshan Changqing Environmental Thermal Energy will be sold to Zhongshan Public Utilities Environmental Energy Investment for 494.2 million yuan.
The Chinese water services provider's shares dropped less than 3% at the close.
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