March 27, 2019 / 5:15 AM / a month ago

Qatar's Nebras explores $1 billion Paiton Energy stake sale: Bloomberg

(Reuters) - Qatari energy investment company Nebras Power is considering selling its stake in PT Paiton Energy, one of Indonesia’s largest independent power producers, Bloomberg reported on Wednesday, citing sources.

The Qatari company’s 35.5 percent holding in Paiton could be valued at more than $1 billion, Bloomberg reported.

Nebras has had initial talks with potential financial advisers, but has not started a formal sale process, according to the report.

Nebras, jointly owned by Qatar Electricity and Water Company and Qatar Holding, had bought its stake in Paiton in 2016 bit.ly/2TYRINz.

Nebras and Paiton did not immediately respond to requests for comment.

Reporting by Bhanu Pratap in Bengaluru; Editing by Gopakumar Warrier

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