Medco Is Said in Talks to Buy Controlling Stake in Senoko
- Potential deal may value Senoko Energy at up to $1 billion
- Talks with Indonesia’s Medco are ongoing, no decisions made
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PT Medco Energi Internasional is in exclusive talks to buy a controlling stake in Senoko Energy Pte., according to people with knowledge of the matter, in a deal that could value the Singapore-based power firm at as much as $1 billion.
The exclusivity arrangement for talks over a 70% stake in Senoko will expire at the end of the month, said the people, asking not to be named as the process is private. Deliberations are ongoing and there is no certainty that Jakarta-based energy producer Medco will proceed with any deal, the people said.