JAKARTA – PT Green Power Group Tbk (LABA) has announced plans to acquire 189,000 shares, representing around 45% ownership, in PT Gotion Indonesia Materials (GIM) from PT Neopower Teknologi Indonesia (NTI).

The agreement was formalised with the signing of a Memorandum of Understanding (MoU) between LABA and NTI on Wednesday, February 26, 2025.

Ferry Cahyo, Corporate Secretary of LABA, stated that the acquisition is being pursued because GIM holds a Nickel Mining Business Licence (IUP) and office buildings.

With a 45% stake in GIM, Ferry explained, LABA aims to expand its business vertically, from upstream to downstream, within the New and Renewable Energy (EBT) industry, while enhancing the company's profitability.

As part of its business development strategy, LABA plans to establish four main divisions: the Raw Battery Materials Division, the Battery Products Division, the Battery Application Division, and the Project Investment Division.

The Raw Battery Materials Division will handle nickel mining, industrial estates, and battery material trading. The Battery Products Division will oversee the production of battery packs, energy storage systems, moulds, and new energy products.

Meanwhile, the Battery Application Division will focus on technology development for electric vehicles, ships, aeroplanes, and the supply chain for related products. Finally, the Project Investment Division will manage investments in various strategic projects.

Ferry emphasised that, at this stage, the GIM acquisition plan does not materially impact the company’s operations, financial condition, or business continuity. "The entire process will continue to follow applicable capital market regulations and mechanisms," he said. (DK/KR/ZH)