RATCH Group Public Company Limited (SET: RATCH) has announced the success in share purchase closing to invest in thermal power plant business in the Republic of Indonesia via the Stock Exchange of Thailand (SET).
As RATCH sequentially reported the progress of the purchase of shares to invest at 36.26 percent in PT Paiton Energy and Minejesa Capital B.V., Paiton Energy Thermal Power Plant business in the Republic of Indonesia, and to invest at 65 percent in power plant operation and maintenance business of IPM Asia Pte through RH International (Singapore) Corporation Pte. Ltd. (RHIS), the company’s wholly-owned indirect subsidiary, on 3 July 2023, RHIS had achieved the conditions precedent of the Sale and Purchase Agreement, the details as specified in Reference.
On 30 April 2024, the company made the payment in accordance with consideration of the Sale and Purchase Agreement totaling approximately USD 590.67 million. As a result, the company has successfully invested in Paiton Energy Thermal Power Plant business in the Republic of Indonesia. This is in line with the company’s investment and partnership strategies by providing the opportunities to jointly invest in power and related businesses for the company’s Group in the future.
