Home Asia - Pacific Japan’s JERA buys $330 mn stake in Singapore power unit of Bangladesh’s Summit
Japan’s JERA buys $330 mn stake in Singapore power unit of Bangladesh’s Summit

Japan’s JERA buys $330 mn stake in Singapore power unit of Bangladesh’s Summit

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The investment was finalised four months after a memorandum of understanding was signed between JERA and Summit in Tokyo, according to the statement.

SINGAPORE: Japan’s JERA Co has acquired a 22% stake in Summit Power International, a Singapore-based unit of Bangladesh’s Summit Group, for $330 million, both companies said in a joint statement on Monday.

The unit is a holding company of all power assets of Summit Group.

The investment was finalised four months after a memorandum of understanding was signed between JERA and Summit in Tokyo, according to the statement.

Source: reuters
Anand Gupta Editor - EQ Int'l Media Network

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