ISDN buys 80% of Potensia Tomini
Monday, June 3 2013 - 07:49 AM WIB
ISDN Holdings Limited announced on Saturday that the SGX-listed firm has, through its wholly owned subsidiary, Aenergy Holdings Company Limited, acquired an 80 percent stake in PT Potensia Tomini Energi (PTE) for Rp8 billion.
The sale and purchase agreement was signed on May 29, the firm said in a filing.
Aenergy bought the stake from shareholders Satria Stevie Joesop and Fathurrahman Chairuddin.
PT PTE is a company incorporated in Indonesia that will be engaging in the business of constructing, operating and maintaining hydro-power plants and the production of electric power in Central Sulawesi, Indonesia.
PT PTE has an exclusive concession to develop a hydro-power plant with a capacity of up to 20 MW.
Editing by Dadan Wijaksana