Singha Estate Public Company Limited (SET:S) agreed to acquire a 30% stake in Angthong Power Company Limited from Whitefords United Pte. Ltd. for approximately THB 560 million on March 8, 2021. As a part of transaction, Singha Estate Public Company Limited will acquire 0.45 million shares of Angthong Power Company Limited. Post transaction, Singha Estate Public Company Limited will hold 30% stake in Angthong Power Company Limited, representing 0.45 million shares, B.Grimm Power (Chonburi) 2 Co., Ltd. will hold 1.049999 million shares representing 70% stake and Preeyanart Sunthornwatha will hold 1 share. In a related transaction, Singha Estate Public Company Limited agreed to acquire Park Industry Company Limited from Boon Rawd Brewery Co., Ltd. for approximately THB 510 million. Angthong Power Company Limited reported total assets of THB 5.4 billion, total liabilities of THB 3.6 billion, total revenue of THB 1.9 billion, net profit of THB 85.3 million and total shareholders' equity of THB 1.9 billion for the year ended December 31, 2020. Angthong Power Company Limited board prior to the acquisition consists of 7 members namely, Chote Choosuwan, Kamjorn Leepraphankul, Kunlaphatha Pricha, Nopphadej Karnasuta, Pichai Kanchanarujiwut, Preeyanart Sunthornwatha and Siriwong Bowornbunruethai. Singha Estate Public Company Limited will appoint representatives with eligible attributes as directors per percent shareholding post acquisition, within quarter 3 of 2021. Transaction is subject to approval from shareholders of Singha Estate Public Company Limited and consent or approval for share transfer or other matter from relevant parties. Singha Estate Public Company Limited shall receive not less than 3 out of 4 of the total votes from participating shareholders who are entitled to vote, excluding interested shareholders. Transaction has been approved by board of Singha Estate Public Company Limited. Share transfer is expected to complete in 2021. As on April 27, 2021, the transaction is approved by shareholders of Singha Estate Public Company Limited. The transaction is expected to complete within quarter 3 of 2021. Avantgarde Capital Company Limited acted as financial advisor to Singha Estate Public Company Limited.