Date:12/08/11,
M&A,
Cross Border Deal, Announced,
GMR Energy Ltd, a a subsidiary of GMR
Infrastructure Ltd, entered into an agreement to acquire 30% stake in T Golden Energy Mines Tbk
(GEMS), a Sinar Mas Group company in Indonesia. The deal is valued at $450-550
million.
GEMS, a subsidiary of PT Dian Swastatika Sentosa (DSS), owns four producing and
six non-producing thermal coal concessions in Indonesia. DSS is focused on power
& steam generation, coal mining, trading and telecommunication
infrastructure development.
"It will provide fuel security for our power plants under construction and
support further capacity addition and trading," BVN Rao, business chairman, GMR
Energy, said.
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