S.W.N. Intertrade Company Limited entered into an agreement to acquire 99.99% stake in M Solution Company Limited from Seven Utilities and Power Public Company Limited (SET:7UP) for THB 90 million on June 29, 2021. The purchase price of THB 90 million will be paid as follows (i) first payment of THB 15 million on the date of signing the agreement; and (ii) second payment 1 year promissory note at THB 75 million after signed the share purchase agreement. The transaction is being approved by the board of directors of Seven Utilities. The transaction is expected to close within 60 days after being approved by the board of directors. The proceeds from the disposal of assets will be used as working capital and for investment in new projects consistent with business expansion plan especially in utility business. For year 2020, M Solution Company reported revenue of THB 354 million and total assets of THB 174 million. The transaction has been approved by board of directors of Seven Utilities and Power Public Company Limited.