Gulf Energy Development Public Company Limited entered into a Purchase and Sale Agreement to acquire a 49% stake in Jackson Generation, LLC from J-POWER Jackson Partners, LLC for approximately $410 million.

Gulf Energy Development Public Company Limited (SET:GULF) entered into a Purchase and Sale Agreement to acquire a 49% stake in Jackson Generation, LLC from J-POWER Jackson Partners, LLC for approximately $410 million on September 9, 2022. The transaction is subject to customary closing conditions, in particular the receipt of required regulatory approvals including approval from the Federal Regulatory Commission (FERC) and completion of review by the Committee on Foreign Investment in the United States. The transaction is expected to complete in December 2022.

Merit Capital Advisors, LLC and Baker & McKenzie LLP have acted as financial and legal advisors, respectively, in connection with the transaction.