Reliance Power to divest Indonesian coal subsidiaries for $12 million
Reliance Power on Monday said it has signed an agreement to sell its entire stake in five Indonesian coal entities for a total consideration of $12 million.
In a regulatory filing, the company said that its subsidiaries: Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Ltd, have entered into a share purchase agreement with Biotruster (Singapore) Pte. Ltd. for the sale of 100% equity in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.
