ABM Investama acquires another power company
Wednesday, November 23 2016 - 01:16 AM WIB
By Romel S. Gurky
IDX-listed coal and energy company PT ABM Investama Tbk announced Monday it has signed a shares sale and purchase agreement with PT Nagata Bisma Sakti for the acquisition of over 99 percent shares in power firm PT Nagata Dinamika.
Nagata Bisma Sakti is 99 percent owned by power company PT Sumberdaya Sewatama, a subsidiary of ABM.
?The purpose of the above mention transaction is to be in line with the company's strategy in energy business including renewable energy,? ABM said in a statement, but did not provide further details.
ABM last week announced the acquisition of PT Pradipa Aceh Daya, a power company, indirectly owned by Sumberdaya Sewatama.
Editing by Reiner Simanjuntak