According to disclosure, through this transaction, Belief Electric will acquire the controlling rights of British Trust and British Securities, and indirectly acquire the controlling rights of British Futures. Its business scope will increase trust, securities, futures and other financial businesses.
According to Peng Mei News, the current controlling shareholders of British Trust and British Securities are China Networks UK International Holdings Group Limited (hereinafter referred to as British Group), which holds 100% of State Grid Limited. It is believed that the majority shareholder of China National Grid Electric Power Research Institute Limited is 31.57%, and the State Grid Electric Power Research Institute is 100% controlled by the State Grid. After the acquisition, Belief Electric will realize the integration of trust, securities, futures and other financial assets under the State Grid, which will become another central enterprise financial control platform after China Aviation Capital (600705.SH) and Minmetals Capital (600390.SH).
According to China Securities Daily, as early as March this year, Confidence Electric announced that it was planning major asset restructuring. Yingda, a wholly-owned subsidiary of State Grid, intends to restructure its assets with the company through assets related to trust, securities and futures business, initially involving the limited number of British international trusts held by the target company, including the company. Equity rights of the company and shares of British Securities Co., Ltd.
From the perspective of equity changes, after the completion of this transaction, without considering supporting financing, British Great Group will become the controlling shareholder of Belief Electric. State Grid Corporation directly or indirectly holds 100% equity of British Great Group, State Grid Academy of Electricity, China Electric Finance, State Grid Shanghai Electric Power, Shenzhen Guoneng and 70% equity of State Grid Xinyuan. The SASASAC of the State Council is still the trusted actual controller of the electric company. This transaction will not lead to the change of the companys control rights.