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Bloomberg
Japanese trading house Mitsui & Co is considering a sale of its majority stake in PT Paiton Energy, one of Indonesia’s biggest independent power producers, people with knowledge of the matter said.
Mitsui is working with an adviser on a potential divestment of its 45.5% stake in the power producer, said the people, who asked not to be identified as the information is private. A deal could be worth more than $1 billion, one of the people said. Mitsui hasn’t started a formal sale process yet, but it’s been gauging interest from potential suitors, including regional electricity producers.
Deliberations are at an early stage and Mitsui could still choose to keep its stake in Paiton, the people said. A representative for Mitsui said the company is working strategically on recycling all its assets to strengthen its financials.