EA Invests ฿80m to Hold 40% in TFG’s Subsidiary for Business Expansion and Enhancement

Energy Absolute Public Company Limited (EA) has made an announcement on the investment of its subsidiary, EA Renewable Co., Ltd. (ERH). ERH has invested in the TF Tech Company Limited (TF Tech) which is the associate company of Thai Foods Group Public Company Limited (TFG).

The transaction has been finished and scheduled to register with the Business Development Department, the Ministry of Commerce on 12th December 2019.

The above transaction has been approved by the meeting of the Board of Directors of EA on 8th November 2019 to acquire 40% of the increased share capital of TF Tech with an aggregate value of THB 80,000,000.00. TF Tech aims to install the floating solar in order to generate and sell electricity to TFG and its group companies while EA expects to expand the business and enhance the competitiveness of the group of EA.