PTT Completes the 50% Acquisition of BGRIM’s LNG Business
PTT completed the transaction for 50% stake of BGRIM’s LNG business to procure and supply LNG.
PTT announced that the company has completed the transaction for the acquisition of B.Grimm Power LNG JV Limited from BGRIM at a total value of 25 million baht.
In reference of the Board of Directors of PTT Global LNG Company Limited (PTTGL), a subsidiary of PTT Public Company Limited (PTT), which PTT and PTT Exploration and Production Public Company Limited equally hold at 50% shares, at the meeting No.3/2564 on 25 June 2021 passed the resolution to subscribe the 250,000 newly issued ordinary shares in B.Grimm Power LNG JV Limited (BGP LNG JV), a previously wholly-owned subsidiary of B.Grimm Power Company Limited (BGRIM), with the subscription price at par value of 100 baht per share, totaling 25,000,000 baht. The transaction was completed on 23 August 2021.
As a result, PTTGL and BGRIM equally hold 50% stakeholding in BGP LNG JV. The objective of BGP LNG JV is to procure and supply LNG and explore other business opportunities related to LNG value chain both domestically and internationally, which are in line with PTT’s strategic move toward Future Energy as well as creating business alliance with the potential partner to expand our business opportunities.
