Hedonova Closes Nickel Co-Investment with 11.21% Profit Amid ESG Concerns
Hedonova has successfully completed a nickel co-investment, realizing an 11.21% profit in the Indonesian market. The firm allocated $6.76 million, with clients contributing $33 million, highlighting its strategic focus on sustainable industries.
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Hedonova has recorded an 11.21% profit from a nickel co-investment in Indonesia, with a total investment of $39.76 million. The acquisition was finalized on June 10, with Hedonova investing $6.76 million and clients providing $33 million.
The decision to exit the investment was influenced by Indonesia's lax labor and environmental regulations, which are at odds with the country's goal of becoming a clean technology leader. Issues such as contaminated water sources and agricultural destruction due to mining practices contributed to this exit. Hedonova aims to continue investing in sustainable opportunities while balancing financial returns with environmental and social governance considerations.
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