Saratoga acquires stake in Batu Hitam
Thursday, July 23 2015 - 05:06 AM WIB
By Romel S. Gurky
IDX-listed PT Saratoga Investama Sedaya Tbk said it has acquired a 16.67 percent stake in PT Batu Hitam Perkasa, which partly owns power plants in East Java.
Saratoga said in a recent statement that Batu Hitam is 83.33 percent controlled by PT Agung Indonesia.
According to previous reports, Batu Hitam owns a 5 percent stake in PT Paiton Energy, which owns and operates the Paiton power plants in East Java with combined capacity of 1,230 MW. Other shareholders in Paiton are International Power Plc, Mitsui & Co Ltd, and The Tokyo Electric Power Co Inc.
Editing by Reiner Simanjuntak