Friday, June 21, 2024

Expansion of Infrastructure and Utility Business in Indonesia

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The firm is pleased to continue our long-term relationship as international and Thai legal counsel to Electricity Generating Public Company Limited (BKK: EGCO) on its significant cross-border investment milestones. Most recently, our energy and infrastructure team in Bangkok represented EGCO on its re-entry into the Indonesian infrastructure and utility market by way of a strategic investment in newly issued shares worth USD194 million and representing a 30% ownership interest in PT Chandra Daya Investasi (CDI) (the “Transaction”), which is a subsidiary of PT Chandra Asri Petrochemical Tbk (now renamed as PT Chandra Asri Pacific Tbk) (JK:TPIA). Chandra Asri Pacific is Indonesia’s leading chemical company engaging in infrastructure solutions and operating an integrated petrochemical plant. EGCO’s investment is made through its wholly-owned subsidiary in the Netherlands, Phoenix Power B.V.

Read the press release.

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