KT ZMICO brokers power-plant merger
KT ZMICO Securities is closing in on a deal to merge two coal-fired power plants in China and Indonesia.
The company’s executive chairman and CEO, Chaipatr Srivisarvacha, said KT ZMICO is working to merge China Huadian Engineering Corporation (CHEC) and PT General Energy Bali (GEB), electricity providers in coal-fired steam power in China and Indonesia, in a deal worth US$589 million (Bt18.55 billion).
The executive vice president for mergers and acquisitions said the company is the sole financial adviser to GEB, an independent power provider of a 380MW coal-fired steam power plant in Indonesia.
The service includes advising on the negotiations, debt restructuring, coordinating due diligence, and documentation to set up a deal offering GEB to CHEC, which is a subsidiary of the China Huadian Group, one of the five largest state-owned power generation enterprises in China.
“The success of the ensuing merger process has resulted in GEB’s successful debt restructuring,” he said.
