Mitrabara acquires power company
Friday, August 26 2016 - 02:08 AM WIB
By Ruli Setiawan
IDX-listed coal mining company PT Mitrabara Adiperdana Tbk said it has acquired PT Cipta Tenaga Surya (CTS) from PT Wahana Sentosa Cemerlang (WSC) as part of efforts to expand its power plant business.
Mitrabara said in a statement Thursday that a sale and purchase agreement had been signed on August 23 with WSC, which is also a major shareholder in the company.
Under the agreement, Mitrabara acquires 95 percent stake in CTS from WSC for a value of Rp 2.37 billion.
The company said the acquisition of CTS will help the company expand its power plant business particularly solar power plant.
Editing by Reiner Simanjuntak