Malakoff buys 90% of SKS Power

INDEPENDENT power producer Malakoff Bhd is buying a 90% stake in SKS Power Sdn Bhd from Northern Power Sdn Bhd for RM835mil cash. The acquisition will enable Malakoff to expand its power generation capacity to 3,595 MW from 1,705 MW now. 

In a statement to the KLSE yesterday evening, Malakoff said it had entered into a conditional agreement with Northern Power to acquire 4.5 million shares in SKS Power, which is involved in the construction, operation and maintenance of a 2,100-MW coal-fired power plant in Tanjung Bin, Johor.