YTL Power International Berhad - Disposal of 42.86 per cent equity interest in YTL Jawa Power Holdings

List of all recent work 

Slaughter and May acted for YTL Power International Berhad on the completion on 15 August 2011 of the disposal via its wholly owned subsidiary, YTL Jawa Power Holdings Limited (a company incorporated in Cyprus), of a 42.86 per cent. equity interest in YTL Jawa Power Holdings B.V. (a company incorporated in The Netherlands) to Aster Power Holding B.V. (an indirectly wholly owned subsidiary of Marubeni Corporation) for consideration of approximately USD 224,000,000.

The principal activity of YTL Jawa Power Holdings B.V. is investment holding and it is the holding company of YTL Jawa Power B.V., which in turn holds a 35 per cent stake in PT Jawa Power, an Indonesian company which owns a coal-fired power generation plant with installed capacity of 1,220 megawatts located at the Paiton Power Generation Complex in East Java, Indonesia.

Slaughter and May advised on the sale and completion arrangements and also on the associated ongoing joint venture relationship between YTL Power International Berhad and Marubeni Corporation in respect of their investments in YTL Jawa Power Holdings B.V. (and, indirectly, in PT Jawa Power).

Simon Hall (partner), Susan Hughes (associate), Edmund Peacock (associate)