Announced
Completed
Financials
Tags
Renewable Energy Equipment
electricity
electricity generation
Friendly
Thailand
electricity distibution
Acquisition
Public
Single Bidder
Majority
Completed
Synopsis
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.
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