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Thailand regulator to block PTT purchase of Glow Energy – Report

Power News - Published on Mon, 15 Oct 2018

Image Source: Reuters
Reuters reported that Thailand's energy regulator will block PTT's bid to acquire Glow Energy from France's Engie in a deal worth up to USD 4 billion. A senior energy ministry source told Reuters that the Energy Regulatory Commission of Thailand hold a news conference. The announcement comes after former finance minister Korn Chatikavanij in September submitted a letter to Prime Minister Prayut Chan-ocha requesting the ERC investigate the deal.

In June, state-owned PTT, through its power unit, Global Power Synergy Company, announced it would purchase a 69 percent stake in Glow from Engie.

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Posted By : Rabi Wangkhem on Mon, 15 Oct 2018
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