A Strange Acquisition
The Indonesia Battery Corporation is to acquire a German electric vehicle company. This has the potential to result in losses.
THERE are many strange aspects to the plan by the Indonesia Battery Corporation (IBC) to acquire German electric vehicle producer StreetScooter. As well as doubtful business prospects, the transaction by a joint venture between four state-owned corporations feels rather forced.
IBC is to buy a 68-percent shareholding in StreetScooter, a subsidiary of the German logistics firm DHL Group, for US$170 million (around Rp2.4 trillion). State-Owned Ent...
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