Shizuoka Gas Co., Ltd. entered into the share sale and purchase agreement to acquire a 49% stake in Thai-Japan Gas Network Company Limited from Scan Inter Public Company Limited for approximately THB 310 million.

Shizuoka Gas Co., Ltd. (TSE:9543) entered into the share sale and purchase agreement to acquire a 49% stake in Thai-Japan Gas Network Company Limited from Scan Inter Public Company Limited (SET:SCN) for approximately THB 310 million on August 5, 2021. Post completion, Shizuoka Gas will hold 2,101,199 shares representing 50.9% stake, Scan Inter will hold 2,018,800 shares representing 49% stake and 1 share by a designated person by Shizuoka Gas. The transaction is subject to completion of the business transfer transaction between Scan Inter and Thai-Japan Gas.

Shizuoka Gas and Scan Inter shall obtain corporate approvals necessary for the asset disposal transaction and Thai-Japan Gas shall have obtained key licenses necessary for the operation of iCNG business and iLNG business. The transaction is expected to complete on December 28, 2021.