Kepco completed the acquisition Bayan

Korea Electric Power Corp (Kepco) has completed the purchase of a 20 percent stake in PT Bayan Resourses Tbk.

The purchase was made in two transactions for a total of IDR4.67 trillion (US$519.4 million). The first transaction was completed July 29, she said.

In a public announcement to Indonesia Stock Exchange (IDX) yesterday, Kepco has acquired 333.33 million shares in Bayan.

Kepco has bought those shares from sellers via over the counter market. After the purchase, Kepco has controlled 666.67 million shares in Bayan or 20% stakes.Following the shares acquisition, Bayan Resources has agreed to supply coal to Kepco.