Jakarta - PT Kencana Energi Lestari Tbk (KEEN), through its subsidiary PT Biomassa Energi Jaya (JSX), acquired 99.99%, or 2.89 million shares, of PT Cahaya Permata Gemilang (CPG).

In an information disclosure in Jakarta on Tuesday (15/2), KEEN Corporate Secretary Dian Rachmadani said, "The acquisition transaction value is Rp21.75 billion."

According to Dian, the budget for the acquisition will come from internal cash. From this corporation, the company hopes to obtain a biomass project with a capacity of 3 megawatts.

"This acquisition also supports business activities and hopes to make a positive contribution to the company and develop into a company that competes with other companies in the same business field," he said.

This acquisition transaction is an affiliated transaction because the Vice President Director and Director of the company serve as Commissioners and Directors at PT CPG.