Super Energy Corporation Public Company Limited (SET: SUPER) announced that, on 28 January 2022, the Board of Directors’ Meeting of the Company has considered and approved of SUPER ENERGY GROUP (HONG KONG) CO., LIMITED (SEG HK), a subsidiary of the company, to sign a Share Purchase Agreement with conditions precedent in order to dispose of 49% shares of SOLAR NT HOLDINGS PTE. LTD. (Solar NT) to AC ENERGY VIETNAM INVESTMENTS PTE. LTD. (ACEV), with an approximate transaction value of USD 165,000,000 or a value equal to THB 5,489,880,000 (at an exchange rate of THB 33.272 per USD announced by Bank of Thailand as of 28 January 2022)
ACEV is an investment company and subsidiary of AC ENERGY CORPORATION (ACEN), a leading renewable energy investment company listed in the Philippine Stock Exchange and core business of the AYALA GROUP of the Philippines.
Solar NT is a company engaged in the business of owning and operating a solar energy power plant in Vietnam and Solar NT is in the process of restructuring the group companies. After completion of restructuring, Solar NT will have direct and indirect subsidiaries which operate nine solar energy power plants located in Vietnam with a total capacity of approximately 837 megawatts and all nine projects have already commenced commercial operations.
For this transaction, SUPER has the objective to form a strategic partnership to join forces in a joint investment and development of solar energy power plant businesses in ASEAN countries (excluding Thailand) in the long term. SEG HK has signed the Share Purchase Agreement with ACEV including relevant documents on 28 January 2022.