Global Power Synergy acquired 69% stake in Glow Energy from Engie.

Global Power Synergy, the power generating unit of state-owned PTT, acquired a portion of Glow Energy, in one of Southeast Asia’s largest energy deals. The deal brings GPSC’s electricity generating capacity to close to 4,700 megawatts. GPSC purchased 69.1% in Glow from France’s Engie for $2.93bn. Glow Energy is also preparing a mandatory tender offer for remaining 30.89% held by public investors. “France’s Engie sale of Glow was in line with the company’s strategy of reducing coal assets and carbon footprint” Isabelle Kocher, Engie CEO.