B.Grimm Power Public Company Limited has announced that its subsidiary, B.Grimm Greenery Company Limited (BGG), has acquired 100% of the shares of Future Green Tech Company Limited (FGT) as part of its strategy to expand investments in solar power generation projects.
According to the company, BGG, in which B.Grimm Power holds a 74.99% stake, acquired the entire shareholding in FGT from Greenergy Holding (Thailand) Company Limited, an unrelated party, for a total consideration of THB 500,000.
Future Green Tech operates as a holding company and owns 100% stakes in several subsidiaries engaged in power generation and electricity distribution. These subsidiaries include a first group with a registered capital of THB 60 million each and a second group with a registered capital of THB 50,000 each.
As a result of the acquisition, all subsidiaries under FGT will become indirect subsidiaries of B.Grimm Power, strengthening the company’s renewable energy portfolio and supporting its long-term growth in the solar power sector.
The company stated that the acquisition was funded through BGG’s working capital and aligns with its objective of expanding investments in renewable energy assets.
B.Grimm Power further clarified that the transaction is not classified as a connected-party transaction and does not constitute a material acquisition of assets under the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand. Consequently, the transaction does not require additional disclosure as a material asset acquisition.
However, the company disclosed the acquisition because it results in companies becoming subsidiaries of the listed entity, in accordance with the Stock Exchange of Thailand’s reporting requirements.
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