BGRIM Sells 25% of B.Grimm Power (Laem Chabang) 1 to PEA Encom for THB1.1 Billion

B.Grimm Power Public Company Limited (SET: BGRIM) announced on Friday that B.Grimm Power Holding (Laem Chabang) Limited, a subsidiary in which BGRIM holds 99.97% of registered capital, has disposed of 37,250,000 ordinary shares, representing 25.00% of the registered capital at the selling price of THB 1,100,000,000, in B.Grimm Power (Laem Chabang) 1 Limited to PEA Encom International Co., Ltd. (PEA Encom), who is not related to B.Grimm Power.

Following the transaction, BGRIM’s ownership in B.Grimm Power (Laem Chabang) 1 Limited will reduce to 75%, while PEA Encom will hold 25%. 

BGRIM said that this strategic partnership would bring benefits to the company and PEA Encom in the areas of business and project development as well as efficiency enhancement in transmission systems.