CK Power Public Company Limited (SET:CKP) agreed to acquire 5% stake in Xayaburi Power Company Limited from PT Sole Company Limited for THB 1.8 billion on March 4, 2021. Post completion CK Power will hold 42.5% stake in XPCL. CK Power will acquire 134.3 million shares of Xayaburi Power Company Limited.

The deal will be financed through issue of THB 2 billion debentures, short term loan facility of THB 4 billion and cash and cash at bank of THB 6 billion. For the year ended December 31, 2020, XPCL recorded revenue of THB 12 billion, Total assets of THB 130 billion, shareholder equity of THB 28 billion and Net income of THB 960 million. The deal is subject to Acquirer board approval, acquirer shareholders approval and approval from lenders and creditors.

As of March 4 ,2021 acquirer board approved the deal. The deal is expected to complete in Quarter 3 of 2021. Capital Advantage Company Limited acted as financial advisor to CK Power Public Company Limited.