Genting bids Jawa Power's stakes

Genting bids Jawa Power's stakes

KUALA LUMPUR: Malaysian gaming company Genting Bhd. confirmed on Wednesday it is bidding for a stake in Indonesia's PT Jawa Power.

In a statement to the Kuala Lumpur Stock Exchange, the company said it has been shortlisted to make a final binding offer for U.K.-based utility company Powergen PLC's 35 percent stake in PT Jawa.

"Genting is seeking to assemble a consortium to submit the final binding offer," it said, without elaborating.

Jawa Power, an Indonesian independent power producer, operates a 1,200-megawatt coal-fired plant in East Java. -Dow Jones