B.Grimm Power Public Company Limited (SET: BGRIM) has informed the Stock Exchange of Thailand that its wholly-owned subsidiary, B.Grimm Power Tiara Sdn. Bhd., has entered into Sale and Purchase Agreements as well as Shareholders’ Agreements with KAB Energy Holdings Sdn. Bhd. (KABEH).
The transaction involves the acquisition of a 49% stake in two of KABEH’s wholly-owned subsidiaries in Malaysia. The details are as follows:
- Jati Cakerawala Sdn. Bhd.: B.Grimm Power Tiara will acquire 1,960,784 ordinary shares, equaling 49% of the company’s issued share, at a price of RM 41,521,052.67.
- Eentier Sdn. Bhd.: B.Grimm Power Tiara will acquire 490 ordinary shares, or 49% of the company’s issued share, for a price of RM 490.
The primary objective of these acquisitions is to collaborate on the development of a combined-cycle gas turbine (CCGT) power plant with a total capacity of up to 1,500 megawatts (MW) in Malaysia.
