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China Hyroelectric establishes special committee to evaluate proposal

China Hydroelectric announced that in response to the preliminary non-binding proposal from NewQuest Capital Partners, through its affiliated entity, CPI Ballpark Investments Ltd, and on behalf of its affiliates and the funds managed by it to acquire all of the Company's outstanding ordinary shares, including ordinary shares represented by the company's American depositary shares or "ADSs", the company's board has established a Special Committee. The Special Committee has engaged Houlihan Lokey as its financial advisor and Davis Polk & Wardwell as its legal counsel to assist the Special Committee in evaluating the NewQuest proposal and other strategic alternatives, and will consider the NewQuest proposal and related matters carefully in due course.