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Mergers & Acquisitions | 8 November 2012

Tata Power Acquires Stake In Indonesian PT Baramulti Sukses Sarana Coal Mine

by Ahemad Shaikh

Tata Power has acquired 26% stake in PT Baramulti Sukses Sarana Tbk (BSSR) coal mine in Indonesia, through its subsidiary Khopoli Investment Limited.

This acquisition would aim to support Tata Power’s power generation projects in select geographies to be developed over next few years.

Earlier the company had signed a long term coal supply agreement with PT Antang Gunung Meratus, a 100% subsidiary of ‘BSSR’.

PT Antang and BSSR together own approximately 1 Bn tonnes of coal resource in South and East Kalimantan in Indonesia.

Tata Power had already presence in Indonesia which includes 30% stake in PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia (AI).

Tata Power has signed an off take Agreement which entitles to purchase about 10 Mn tonnes of coal per annum. Additionally, a consortium compromising of Tata Power, Origin Energy and PT Supracois developing a geothermal project in Indonesia with approx . capacity of 240 Mw generation capacity.

Sun Pharma To Acquire DUSA Pharmaceuticals

Sun Pharmaceutical Industries Limited and DUSA Pharmaceuticals have entered into a definitive agreement under which Sun Pharma will acquire DUSA, a dermatology company focused on developing and marketing its 'Levulan' photodynamic therapy platform.


FreeCharge Secures Series B Funding

Freecharge, an online platform for recharge, utility payments, promotions and couponing, has raised $33 Mn (c.INR 2,000 Mn) from existing investor Sequoia Capital India along with new investors Belgium-based investment firm Sofina and Russian Internet and technology investor ru-Net. The Series B infusion will be taken to build up its transactional advertising offerings.

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