Greener Environmental (01330.HK) announced that it signed an equity acquisition framework agreement to acquire all or part of the stake in five household waste incineration power companies by way of cash or cash plus equity. The agreement is a framework, intentional agreement only, and the specific matters involved include the price of the transaction, subject to a separate formal share acquisition agreement to be determined by the parties.

The five domestic waste-to-energy companies involved are Lanzhou Fengquan, Xianning Zhongde, Zhoukou Fengquan, Fengquan, Kunming Fengde and Dingzhou Ruiquan.

The company said that if the transaction was finally reached, it would help to expand its MSW incineration business, thereby increasing market share and market competitiveness.