Jakarta – Shikoku Electric Power Company Incorporated or Yonden acquired a 25% stake in PT Hero Global Investment Tbk (HGII), company officials said in a press conference on Friday, January 24. This acquisition was carried out through Yonden’s subsidiary, SEP International Netherlands B.V., for Rp325 billion.
After the acquisition, HGII’s founders remained as the controlling shareholders, with 55% of the shares, 25% controlled by Yonden, and 20% public shares.
Hero Global Investment President Director Robin Sunyoto revealed several reasons why the company’s founders released shares to Yonden. Among those reasons, he said, HGII and Yonden Group have the same vision and mission, including a commitment to developing renewable energy. Another reason is that Yonden has many advantages that will support HGII positively.
Yonden is a listed company on the Tokyo Stock Exchange with the stock code TYO: 9507. Furthermore, Yonden and HGII are both in the business of energy, electricity, and new renewable energy. Yonden is experienced in power plant construction, operation and maintenance (O&M).
“We are proud to partner with Yonden, which will provide great opportunities for HGII to accelerate the growth of renewable energy in Indonesia,” said Robin.
On the same occasion, the General Manager of the International Business and Cooperation Department of Yonden, Kazuichi Ikeda, explained that the acquisition is based on the factor that HGII has developed several renewable energy projects independently, has been operating smoothly, and generates stable revenue based on long-term power purchase agreements. (hs)
