PVPower to divest entirely from eight affiliates

PVPower to divest entirely from eight affiliates

HÀ NỘI — PetroVietnam Power Corporation has announced plans to divest from several of its member units, including eight subsidiaries it wants to sell its entire stake in, according to a statement from the Board of Directors.

PVPower (POW) plans to divest all capital from Nậm Chiến Hydropower, Sông Hồng Energy, Petroleum Urban Development; Sông Tranh  三 Hydropower, EVN International, Petroleum Mechanical and Electrical, Vietnam - Laos Electricity, and Petroleum Equipment - Machinery.

In  二0 二 一 -  二0 二 五, it aims to reduce holdings to at least  五 一 per cent in Hủa Na Hydropower, Nhơn Trạch  二 Petroleum, PV Power Service, and PV Power REC.

POW will also divest from DakDrinh Hydropower to less than  六 五 per cent of the capital or the entire contributed capital.

As of the end of September  二0 二0, PVPower reported VNĐ 二 一. 七 九 trillion in revenue, down  一 七 per cent year-on-year and an after-tax profit at VNĐ 一. 四 八 trillion, down  四0 per cent from a year ago. — VNS