Indonesia’s Medco Energi said to be looking for strategic partner for power arm

Photo: Medco Energi website

Indonesia-listed energy company Medco Energi International is said to be scouting for a strategic partner for its power subsidiary, Medco Power Indonesia (MPI), three people familiar with the matter said.

The process to look for a strategic partner has been ongoing since early 2019. Some power companies from Thailand and China are said to have reached the pre-qualification stage so far. Medco Energi is advised by JP Morgan for this stake sale plan.

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