Bangchak Corporation Public Company Limited (SET: BCP) has informed the Stock Exchange of Thailand that the Board of Directors Meeting No. 15/2568, held on 26 November 2025, and No. 3/2569, held on 12 February 2026, resolved to approve an establishment of a new subsidiary, namely Bangchak Hong Kong Holding Limited (BHK Holding), in Hong Kong.
BCP will hold 100 percent of the total shares in BHK Holding. The Meeting also resolved to approve the acquisition of 100 percent of the total shares (the Sale Shares) in Chevron Hong Kong Limited (CHK) by BHK Holding from Chevron Companies (Greater China) Limited (the Seller).
CHK operates in the retail fuels business through service stations, industrial fuels business and marine fuels business. The company entered into a share purchase agreement with the Seller on 13 February 2026, and agreed on the preliminary purchase price for the Sale Shares of $270,000,000. The final purchase price will be subject to conditions and terms of price adjustments as specified under the share purchase agreement.
After the transfer of the Sale Shares, the company will proceed with the change of the name of CHK to “Bangchak Hong Kong Limited” (BHK). Upon completion of the transaction, BHK Holding and BHK will become subsidiaries of the company.
This share acquisition transaction represents Bangchak’s overseas market expansion, strengthening long term competitiveness, enhancing Bangchak’s presence and credibility across the Asia Pacific. This new business supports Bangchak’s expansion of Thailand’s energy business into overseas markets, for the benefit of the company and its shareholders.
