No Backing Down! GPSC Submits Appeal Against ERC, Insisting on Takeover Glow!
As expected from GPSC to submit an appeal against ERC. The ฿140 billion deal and taking control of Map Ta Phut Industrial Estate is just too much for GPSC to miss this chance.
According to the case that the Energy Regulatory Commission (ERC) has come to a unanimous resolution after the meeting on October 11, 2018, to disapprove Global Power Synergy Public Company Limited (GPSC), an affiliate of PTT Public Company Limited (PTT), in the acquisition of 69.11% in Glow Energy Public Company Limited (GLOW).
ERC has given the reason of the disapproval as it may violate Energy sector, and the business act of antitrust. If the acquisition is to be completed, GPSC would own about 80% of all private power purchase agreements in Map Ta Phut Industrial Estate.
On Monday, November 12, 2018, GPSC submitted the appeal of the order passed by the resolution of the Energy Regulatory Commission disapproving the application of GPSC with respect to the acquisition of shares of GLOW Energy Public Company Limited.
