Baker McKenzie and its Singapore member firm Baker McKenzie Wong & Leow advised Electricity Generating Public Company Limited ("EGCO Group") on the disposal of its entire shares in three geothermal power plants in Indonesia to Star Energy Group Holdings Pte. Ltd.
Under the agreement, EGCO Group disposed 20% of issued and paid-up ordinary shares in Star Energy Geothermal Pte. Ltd.(“SEG”) and 30.25% of issued and paid-up ordinary shares in Star Phoenix Geothermal JV B.V.(“SPG”), for a total consideration of USD 485 million. The two companies hold interests in three geothermal power plants entitled “Wayang Windu”, “Salak” and “Darajat” located in West Java, Indonesia.
A cross-practice team of transactional specialists had worked on this transaction, led by Corporate & Commercial Partner Preeda Meksrisuwan in Bangkok and Principal Bee Chun Boo of Baker McKenzie Wong & Leow in Singapore. The other lawyers who were involved in this transaction include: Senior Associate Hojung Jun, and Associates Lawrence Gregory in Singapore, Jarae Sithiwong in Bangkok and Suzanne van Balen in Amsterdam.
Commenting on the deal, Preeda said, "This transaction provides our client with the funding to develop new investment opportunities in the future, especially in renewable and clean energy projects with superior growth potential. We are pleased to have been able to help bring this strategic deal to fruition for our client."
Under the agreement, EGCO Group disposed 20% of issued and paid-up ordinary shares in Star Energy Geothermal Pte. Ltd.(“SEG”) and 30.25% of issued and paid-up ordinary shares in Star Phoenix Geothermal JV B.V.(“SPG”), for a total consideration of USD 485 million. The two companies hold interests in three geothermal power plants entitled “Wayang Windu”, “Salak” and “Darajat” located in West Java, Indonesia.
A cross-practice team of transactional specialists had worked on this transaction, led by Corporate & Commercial Partner Preeda Meksrisuwan in Bangkok and Principal Bee Chun Boo of Baker McKenzie Wong & Leow in Singapore. The other lawyers who were involved in this transaction include: Senior Associate Hojung Jun, and Associates Lawrence Gregory in Singapore, Jarae Sithiwong in Bangkok and Suzanne van Balen in Amsterdam.
Commenting on the deal, Preeda said, "This transaction provides our client with the funding to develop new investment opportunities in the future, especially in renewable and clean energy projects with superior growth potential. We are pleased to have been able to help bring this strategic deal to fruition for our client."
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