PTT Public Company Limited completed the acquisition of an additional 10.78% stake in Global Power Synergy Public Company Limited from Thai Oil Public Company Limited.
The Share Sale Transaction is intended to derive proceeds for TOP to primarily repay the loan to PTT under the credit facility agreement with PTT for financial assistance in the form of bridging loan and to repay the loans to commercial banks for financial assistance in the form of bridging loan. Avantgarde Capital Company Limited acted as financial advisor and fairness opinion provider to Thai Oil Public Company Limited.
PTT Public Company Limited (SET:PTT) completed the acquisition of an additional 10.78% stake in Global Power Synergy Public Company Limited (SET:GPSC) from Thai Oil Public Company Limited (SET:TOP) on June 7, 2022.