IFC backs Saratoga-led investment in power producer
International Finance Corp. (IFC), the World Bank’s investment arm, has paid up to $25 million for an 11% stake in Indonesian electricity producer Medco Power International (MPI). It is part of a $112 million investment by a Saratoga Capital-led consortium for majority control of the company.
Saratoga announced its involvement last December, when the first installment of $87 million was paid. The remainder - IFC's contribution - was signed off last week. According to IFC, its participation...
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