GULF Invests ฿1.2Bn to Acquire 70.5% Stake in “GMIM” to Expand Investments in Vietnam

Gulf Energy Development Public Company Limited (GULF) has announced that on January 13, 2021, the Board of Directors of the company has resolved to approve GULF’s investment through Kolpos Pte. Ltd., the company’s wholly-owned subsidiary that is incorporated in Singapore, to acquire 70.5% of ordinary shares in Global Mind Investment Management Pte. Ltd. (GMIM) from Nech Opportunities Fund VCC with a total investment value of USD 40 million or approximately THB 1,200 million.

GMIM is a holding company incorporated in Singapore. It has both direct and indirect investments in renewable energy businesses such as solar energy, hydropower and wind energy, infrastructure businesses such as cargo port and warehouse, as well as agriculture-related businesses in Vietnam. The objective of such acquisition is to further expand investments in Vietnam.