HoonSmart.com>> PTT Group sends “PTT Global LNG” as a 50% stake in “B.Grimm Power LNG JV”, a subsidiary of BGRIM, is engaged in procurement and distribution business. LNG
PTT Company (PTT) revealed that according to the resolution of the Board of Directors of PTT Global LNG Company Limited (PTTGL), a subsidiary of PTT, holding 50% and PTT Exploration and Production Company (PTTEP) holding 50% on June 25, 2021 approved the purchase of 250,000 ordinary shares of B.Grimm Power LNG JV Co., Ltd. (BGP LNG JV) at the price of Subscription at a par value of 100 baht per share, totaling 25 million baht, purchased from B.Grimm Power Company (BGRIM), which holds 100%.
After the completion of the acquisition of newly issued ordinary shares on August 23, 2021, PTTGL and BGRIM will have the same 50% stake in BGP LNG JV.
BGP LNG JV has the objective of operating the business of procuring and distributing LNG, as well as seeking other business opportunities in the LNG value chain both domestically and internationally. This is the implementation of PTT’s strategic plan towards future energy and creating alliances to increase business opportunities with potential partners.
B.Grimm Power Company Limited (BGRIM) revealed that the joint venture will increase competitiveness. including expanding the business of B.Grimm Power
The above actions are in accordance with the principles approved by the B.Grimm Power Board of Directors meeting on March 24, 2021.
