October 7, 2019 / 5:41 AM / 15 days ago

Japan's JERA buys $330 mln stake in Singapore power unit of Bangladesh's Summit

SINGAPORE, Oct 7 (Reuters) - 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. (Reporting by Jessica Jaganathan; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below