NewQuest Capital Partners affiliates, CPT Wyndham Holdings Ltd and CPT Wyndham Sub Ltd, have agreed to acquire Chinese small hydro developer China Hydroelectric Corporation (CHC).

The companies entered into definitive agreement and plan of merger that will see CPT Wyndham acquire CHC for US$1.17 per ordinary share or US$3.51 per American Depositary Share, each representing three ordinary shares.

Under the terms of the deal, CHC will continue to operate as a wholly owned subsidiary company.

The deal is expected to close in the first half of 214, subject to conditions.