Banpu Power
Banpu PowerNews · 2026-02-03 06:00
BPP shareholders approved the amalgamation with BANPU and the partial divestment of a 25% interest in U.S. gas-fired power plants.
Banpu Power (BPP) shareholders have overwhelmingly approved its amalgamation with Banpu Public Company Limited (BANPU) and the partial divestment of a 25% stake in its U.S. gas-fired power plant joint venture, BKV-BPP Power LLC, to BKV Corporation.
This strategic move aims to elevate BPP into a pure-play power platform under the Banpu Group's 'Power+' strategy, enhancing long-term competitiveness and reflecting the true market value of its U.S. assets while paving the way for new investment opportunities.
Fast Facts
- ·Event: Shareholder approval for amalgamation and divestment
- ·Amalgamation approval: 99.99% of votes
- ·Divestment approval: 99.87% of votes
- ·Divested asset: 25% interest in BKV-BPP Power LLC
- ·Acquirer of interest: BKV Corporation
- ·Divestment consideration: Approximately USD 230.3 million (THB 7,162 million)
- ·Payment structure: USD 115.1 million cash + 5,315,390 BKV Common Stock shares
- ·New company listing target: Q3/2026 on SET
- ·Share swap ratio: 1 BPP share to 0.80208 new company shares
Power Generation
ESG & Finance
Other
People Mentioned
Source
BPP shareholders approved the amalgamation with BANPU and the partial divestment of a 25% interest in U.S. gas-fired power plants.