January 9, 2022 [Bangkok Post] – BCPG Plc, a clean power generation flagship of energy conglomerate Bangchak Corporation, has acquired all the shares of Asia Link Terminal Co, worth 9 billion baht, enlarging its investment in oil terminal and seaport projects.
Asia Link is a subsidiary of Pan Asia Storage & Terminal Co, a logistic services provider that has business footpaths across Asia.
The company reported to the Stock Exchange of Thailand on Tuesday that it purchased all shares at the par value of 100 baht per share.
Asia Link operated an oil terminal and seaport business in Phetchaburi province and could generate recurring income, said BCPG, which paid cash for the takeover.
The company entered into the share sale and purchase agreement on Dec 30, 2022.
BCPG chief executive officer and president Niwat Adirek said the acquired infrastructure could be developed to create business opportunities in the future.
BCPG expected to complete the transaction process for the acquisition around March, he said.
“Asia Link has a long term contract for oil storage with fixed monthly fees, so we foresee its potential support for related business activities in the future,” Mr Niwat said.
The latest asset acquisition came a month after Bangchak Corporation fully entered into the energy logistics business in supplying liquefied natural gas (LNG) to users whose production facilities were not covered by on-shore natural gas pipelines.
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