Gunkul Engineering Public Company Limited (SET:GUNKUL) agreed to acquire an additional 25% stake in Gunkul Infinite Group Company Limited from Infinite Property Group Company Limited for approximately THB 120 million on December 17, 2021. As part of the transaction, Gunkul Engineering will acquire 785,000 shares. Post completion, Gunkul Engineering will hold 3,139,997 shares representing 99.99% stake, Somboon Aueatchasai, Phongsakorn Damnoen and Janpon Ngamaroonchote will hold 1 shares each in Gunkul Infinite Group.

The consideration will be sourced from working capital. As of September 30, 2021, Gunkul Infinite Group reported total assets of THB 1.25 billion and Shareholders' Equity of TNB 395.6 million. Phongsakorn Damnoen, Naruechon Dhumrongpiyawut and Janpon Ngamaroonchote will be the part of board of committees of Gunkul Infinite Group following completion.

The transaction is approved by the Board of Directors of Gunkul Engineering. The transaction will be completed within January 2022.