Hans Energy Acquires Majority Stake in Citybus' Parent Company for Hydrogen Integration
Key Ideas
  • Hans Energy acquires 54.44% equity shares of Citybus' parent company, Bravo Transport Holdings Limited, to become the majority shareholder, aiming to integrate the energy supplier with the public transport operator.
  • The strategic development includes plans for hydrogen integration in Citybus' operations, aligning with the #MissionZero goal for zero-emission transformation.
  • Templewater retains a 30% equity stake in BTHL and becomes a minority shareholder of Hans Energy, focusing on providing support for business development, acquisitions, and hydrogen-related projects.
  • Citybus will benefit from being part of a listed company on the Hong Kong Stock Exchange, ensuring greater transparency in operations and access to capital market support for stable and sustainable development.
Hans Energy Company Limited has acquired a majority stake in Citybus' parent company, Bravo Transport Holdings Limited, marking a significant step towards integrating the energy industry with public transport operations in Hong Kong. This acquisition, valued at HKD2.72 billion, positions Hans Energy as the majority shareholder of BTHL, with plans to vertically integrate the energy supplier and the public transport operator. The transaction also includes provisions for future share acquisitions, highlighting a long-term commitment to strengthening the partnership. The strategic development emphasizes the adoption of hydrogen technology in Citybus operations, contributing to the #MissionZero goal for zero-emission transformation. Templewater, retaining a significant equity stake in BTHL, will continue to provide support and advisory services for business growth and hydrogen-related projects. Citybus, now part of a listed company on the main board of the Hong Kong Stock Exchange, is poised for enhanced operational transparency and access to capital market resources for sustainable development. This move reflects a positive sentiment towards the future prospects of hydrogen integration in public transportation and renewable energy sectors in Hong Kong.
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