PTTEP acquires 39% stake in APICO for $74m.

PTTEP HK Holding, a subsidiary of PTT Exploration and Production Public Company(PTTEP) acquires 39% stakes in APICO from Coastal Energy Company (Khorat) for $74m. “This acquisition of an additional interest in APICO underlines PTTEP’s growth strategy in expanding investment in Thailand. The deal will generate a return on investment to PTTEP while also driving further development of Sinphuhorm Project to support electricity generation in the northeast of Thailand.” Phongsthorn Thavisin, PTTEP President and Chief Executive Officer.