B.Grimm Power Public Company Limited has expanded its investment in solar power generation with the acquisition of a 75% stake in PV Unity Solar Co., Ltd.
The company’s wholly owned subsidiary, B.Grimm Power Future Solution Limited (BGPFS), acquired 75% of the ordinary shares in PV Unity Solar from PowerVault (Thailand) Co., Ltd. for a total consideration of THB 22.5 million. PowerVault is not a connected person to B.Grimm Power, according to the company.
PV Unity Solar has a registered capital of THB 30 million, divided into 3 million ordinary shares with a par value of THB 10 per share. The company was established for the development of a solar power project.
Following the transaction, BGPFS will hold 75% of PV Unity Solar’s registered capital, while PowerVault will retain the remaining 25% stake. The acquisition was funded through BGPFS’s working capital.
B.Grimm Power said the transaction is not classified as a material transaction under the applicable rules of the Capital Market Supervisory Board. However, the acquisition constitutes an investment that results in PV Unity Solar becoming a subsidiary of B.Grimm Power, requiring disclosure to the Stock Exchange of Thailand under the relevant regulations for listed companies.
The company said the acquisition is aimed at expanding its investment in solar power generation projects. The announcement did not disclose the project’s capacity, location, development timeline, or expected commissioning date.
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