SEA Deal Ticker
Indonesia's sovereign fund would rather own the buses than subsidise them: Danantara offers VKTR Rp2 trillion
The non-binding term sheet, signed 28 August with Bakrie & Brothers as guarantor, covers up to Rp2 trillion ($119M) and carries a conversion option into VKTR equity. Proceeds buy electric buses and trucks.
Positive-sum angle: A fleet operator no longer has to own the bus to electrify it. Anyone running vehicles on a municipal contract in Java can now rent the capex off a state balance sheet instead of raising against it.