RATCH Group-backed RH International completed the acquisition of a 36.26% stake in Paiton Energy from Mitsui for $590.67m.

RH International, a unit of Thai energy firm Ratch Group, completed the acquisition of a 36.26% stake in Paiton Energy, an Indonesian coal power plants operator, from Mitsui, a Japanese trading house, for $590.67m. "The Company is pleased and thankful to all relevant parties for the deal's success. RATCH is willing to support PT Paiton Energy’s mission and goals in all aspects; electricity production for national grid security, social development for the better quality of living, and environmental responsibility," Nitus Voraphonpiput, RATCH Group CEO.