KL company to buy stake in Jawa Power

Wed, 02 Jun 2004, 00:00 WIB | Source: DPA

KUALA LUMPUR: Malaysian power company YTL Power International
Bhd has announced a move to buy a 35-per-cent stake in an
Indonesian power plant for US$139.4 million, news reports said
Tuesday.

YTL Power will buy the stake in PT Jawa Power from PT
Bumipertiwi after the Indonesian company buys the shares from
Powergen, which is part of the German utility giant E.ON.

"Indonesia is the most natural growth market in the region for
us to deploy our energy and infrastructure skills," YTL Power
managing director Francis Yeoh said in a statement.

The move by YTL Power, which has more than 4 billion ringgit
($1.1 billion) in cash, would make it the company's third major
overseas acquisition after it bought a third of an Australian
power transmission firm and Britain's Wessex Water. -- DPA

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