M&A M&A
Reliance Power sells stakes in 5 Indonesian subsidiaries for $12-M
Source Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
Publicly listed, Mumbai-based Anil Dhirubhai Ambani Group company Reliance Power Ltd has divested its stake in five Indonesian step-down subsidiaries to Biotruster (Singapore) Pte Ltd for USD 12 million.Reliance Power, via its subsidiaries Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd, has sold 100% equity shareholding in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.