Following the completion of the disposal, PT Kariangau Power ceased to be an indirect subsidiary of Metis Energy.
Shares in Metis Energy closed 0.1 cents higher or 1.85% up at 5.5 cents on Dec 1.
Metis Energy has announced the completion of the proposed disposal by its wholly-owned subsidiary SLM Holding of 397,785 shares in the capital of PT Kariangau Power for IDR151.6 billion ($13.6 million).
The shares were sold to PT Bayan Resources and PT Bayan Energy. PT Kariangau Power has entered into a loan agreement with PT Bayan Resources to repay the former’s outstanding loans due to Metis Energy.
