PETALING JAYA: Mudajaya Group Bhd
’s unit has proposed to acquire a majority stake in an Indonesian independent power producer (IPP) for a yet-to-be determined price.
In a filing with Bursa Malaysia, the contruction group said its indirect 95%-owned subsidiary, PT Mudajaya Energi Indonesia, had entered into a conditional share sale and purchase agreement (CSPA) with PT Indomuda Satria Internusa (PT ISI) and PT Harmoni Energi Indonesia Manokwari (PT HEIM) to acquire a 73.69% equity interest in PT HEIM.
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