JAKARTA. PT Nusantara Infrastructure Tbk (META) has signed a Sale and Purchase Deed with PT Pembangunan Perumahan Energi (PP Energi) regarding capital portions in PT Inpola Meka Energi (IME).

This acquisition is carried out by META through one of its subsidiaries, PT Energi Infrastruktur (EI). The number of IME’s shares acquired by EI is 496,645 or equal to 38.77% of the shares.

For the record, IME owns the concession of Mini Hydropower Plant in Lau Gunung, Dairi Regency, North Sumatra. This power plant provides power with a capacity of 2x5 megawatts (MW) and has been operating since December 21, 2020.

“The transaction potentially increases assets and equity of the company,” Dahlia Evawani, Corporate Secretary of META, in the official disclosure.

It is worth mentioning that EI is a business entity established by META in 2013, and has become a sub-holding for energy businesses. Total assets before eliminations of EI clocked up to IDR 707.33 billion as of September 30, 2023.

The source of fund used by EI for this acquisition comes from its internal cash. According to IDNFinancials data, consolidated cash and cash equivalent recorded by META was IDR 186.33 billion as of September 30, 2023. (KR/ZH)