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
