China Bester Group Telecom's (SHA:603220) unit, Bester Telecom International, plans to acquire 55% of Indonesia-based PT Semesta Energi Services for $25 million, according to a Shanghai Stock Exchange disclosure on Jan. 24.
The amount included $7.5 million that will be used to buy 41,242 shares or 38.73% of Semesta Energi Services and $17.5 million that will be used to increase capital in the power and new energy infrastructure construction company, the Chinese telecommunication services provider said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.