ABM unit acquires affiliated power firms

By Romel S. Gurky

IDX-listed coal and energy company PT ABM Investama Tbk said that its subsidiary PT Nagata Dinamika has signed an agreement to acquire two affiliated power firms as part of strategy to expand the group?s power plant business including in renewables.

ABM said in a statement Wednesday that Nagata Dinamika has signed share sale and purchase agreements with PT Nagata Bisma Shakti and PT Pradipa Aryasatya for the acquisition of 99 percent shares in PT Nagata Biogas Dwienergi, and 99 percent shares in PT Nagata Bio Energi.

?The transaction forms part of the company?s new strategy in the energy business including renewable energy,? ABM said in the statement.

Editing by Reiner Simanjuntak