RH International (Singapore) Corporation Pte. Ltd. agreed to acquire PT Paiton Energy/Minejesa Capital B.V./IPM Asia Pte. Ltd. from Mitsui & Co., Ltd. (TSE:8031) and Paiton Power Financing B.V. on June 22, 2021. RH International (Singapore) Corporation Pte. Ltd. agreed to acquire 45.515% in PT Paiton Energy from Mitsui & Co., Ltd. and 45.515% in Minejesa Capital B.V and 65.0% in IPM Asia Pte. Ltd. from Paiton Power Financing B.V. This transaction is expected to close before the end of fiscal year ending March 2022 subject to completion of certain conditions precedent, including PLN consent, financing party consent, and RATCH shareholder approval. As on May 2, 2022, transaction is now expected to be completed during the fiscal year ending March 2023.As on February 15, 2023, transaction is now expected to be completed within the first quarter of fiscal year ending March 2024 upon the completion of certain conditions, including consent from an Indonesian national electricity power company which has a long-term power purchase agreement with PT Paiton Energy , as well as from financing parties .Credit Suisse AG acted as financial advisor to RH International Corporation Ltd, parent of RH International (Singapore) Corporation Pte. Ltd. Advisory Plus Co., Ltd. acted as financial advisor for RH International. Kelvin Ross of Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Mitsui & Co., Ltd.All condition precedents were fulfilled on June 27, 2023, and the sale of shares is expected to complete within July, 2023 upon the completion of certain prescribed procedure. As on August 1, 2023, The sale of shares was expected to close by the end of July, 2023 upon the completion of certain procedures as all condition precedents were fulfilled on June 27, 2023 and It has taken time to complete the certain procedures, and the completion timing for the sale of shares is expected to be further delayed.

RH International (Singapore) Corporation Pte. Ltd. completed the acquisition of PT Paiton Energy/Minejesa Capital B.V./IPM Asia Pte. Ltd. from Mitsui & Co., Ltd. (TSE:8031) and Paiton Power Financing B.V. for JPY 109 billion on April 30, 2024.