Indika units sign notarial deed for sale of stake in Cirebon power plant project
Thursday, August 4 2016 - 01:07 AM WIB
IDX-listed energy company PT Indika Energy Tbk announced on Wednesday that a notarial deed for the sale of its indirect stake in a power plant project had been signed on August 1.
The company said in a statement that the notarial deed follows the signing on June 30 of a share and sale purchase agreement by its subsidiaries PT Indika Multi EnergiInternasional (IMEI) and PT Indika Energy Infrastructure (IEI) with PT Imeco Multi Prasarana (IMP).
As has been previously reported, IMEI and IEI will sell their combined 75 percent stake in PT Prasarana Energi Indonesia (PEI) to IMP.
PEI through its subsidiary PT PrasaranaEnergi Cirebon owns 25 percent participating interest in a 1x1,000 MW coal-fired power plant (CEP-2) project in Cirebon, West Java, to be developed by PT Cirebon Energi Prasarana (CEPR).
Indika said the transaction will result in the reduction of the company?s indirect stake in the CEP-2 project from 25 percent to 6.25 percent.
Editing by Reiner Simanjuntak