Siamgas and Petrochemicals Public Company Limited (SET:SGP) agreed to acquire 79.64% stake in Shell Gas Hai Phong Ltd. from Shell Gas (LPG) Holdings B.V. for $0.7 million on September 28, 2012. Siamgas and Petrochemicals will pay $0.06 million on the date of agreement and shall pay remaining $0.24 million upon the completion of the transaction, the remaining consideration will be paid at a later date subject to conditions specified in contract. Siamgas and Petrochemicals will finance the transaction from its working capital. Shell Gas Hai Phong reported total assets of $8.01 million (THB 253.79 million), total liabilities of $9.89 million (THB 313.47 million), revenues of $27.02 million (THB 855.98 million) and net loss after taxation of $0.90 million (THB 28.62 million) for the year ended December 31, 2011. The Board of Directors of Siamgas and Petrochemicals approved the transaction. The currency conversions have been done from www.oanda.com for December 31, 2011.

Siamgas and Petrochemicals Public Company Limited (SET:SGP) completed the acquisition of 79.64% stake in Shell Gas Hai Phong Ltd. from Shell Gas (LPG) Holdings B.V. on January 18, 2013.