Indika unit acquires stake in Cirebon Energi
Friday, October 9 2015 - 03:22 AM WIB
IDX-listed integrated energy company PT Indika Energy Tbk said Thursday that its subsidiary PT Prasarana Energi Cirebon (PEC) has signed an agreement to purchase the entire 42 percent shares of PT Bayu Inti Permata (BIP) in power plant company PT Cirebon Energi Prasarana (CEPR).
Indika said in a statement that the deed on the sale and purchase of the shares was signed by on October 2.
Indika said in the statement that CEPR is a limited liability firm set up to develop a 1,000 MW coal-fired power plant in Cirebon, West Java, which is an expansion of the 1x660 MW PLTU Cirebon power plant.
It added that the shareholders of CEPR are the same companies appointed by almost the same sponsors in the Cirebon-1 project.
In line with the entry of other new shareholders into CEPR, the ownership of PEC in CEPR will be diluted from 42 percent to 25 percent, the statement said.
Indika owns 100 percent of PEC via indirect subsidiary PT Prasarana Energi Indonesia (PEI), which is owned by PT Indika Muld Energi, and PT Indika Energy Infrastructure.
Meanwhile, BIP is 100 percent owned by PT Indika Mitra Energi, the key shareholder of Indika.
Editing by Reiner Simanjuntak