PTT Tops Up the Positions in GPSC to 44.45% and Strengthens Power Business

PTT Public Company Limited (PTT) announced that the Board of Directors Meeting No. 4/2564 on April 22, 2021 approved the shareholding restructure of PTT’s power business. The Restructuring Plan consists of PTT and Siam Management Holding Company Limited (SMH), a wholly-owned subsidiary of PTT, purchasing 358,936,756 shares of Global Power Synergy Public Company Limited (GPSC) or equivalent to 12.73% of GPSC’s total issued and paid-up shares, from PTT Global Chemical Public Company Limited (PTTGC), for the value of 70 baht per share or total approximately 25,126 million baht.

Currently, PTT owns 31.72% and GC owns 22.73% of GPSC’s total issued and paid-up shares. After this transaction, PTT and SMH will own 44.45% and GC will own 10.00% of GPSC’s total issued and paid-up shares. The Restructuring Transaction will enable PTT to increase its investment in the power business through flagship companies that align with PTT’s strategy.