Asia Cement to purchase additional stake in Chiahui Power

Japan-based Electric Power Development Co, also known as J-Power, is planning to sell its entire stake in  Chiahui Power to Taiwan’s Asia Cement for TWD5.37bn (US$183m).

The share sale is subject to the approval of Taiwan’s authorities. Asia Cement, by purchasing the 39.97 per cent share, will raise its stake in Chiahui Power to 99.7 per cent.

J-Power initially acquired the Chiahui Power shares from Asia Cement in 2002 and invested around JPY8bn (US$7m) into the firm, making it its largest overseas investment project.