20 Jan 2021 Mr. Kijja Sripatthangkura President of RATCH Group Public Company Limited revealed that the company has closed a deal to buy shares Bangkok Aviation Fuel Service Public Company Limited (BAFS) from Thai Airways International Public Company Limited totaling 98,983,125 shares or 15.53% worth 2,712,137,625 baht. BAFS shares from Thai Airways International Public Company Limited through electronic bidding and being the winner of the auction, the Company entered into the BAFS share purchase agreement with Thai Airways International Public Company Limited on December 29, 2020. Send a letter to notify the completion of the conditions precedent and the Company has paid for the shares to Thai Airways in full on 19 January 2021, with Thai Airways transferring BAFS shares to the Company. Completed on the same day
“The company intends to invest in BAFS for the long term and aims to develop partnerships. Meet both parties’ future growth goals The company There are plans to expand investment in infrastructure. And energy-related businesses As well as seek strong alliances The investment in BAFS responded to the strategic plan of the Company. It also helps to strengthen the Company’s income. The company will recognize dividend income from this investment, ”said Mr. Kitcha.
However, the company Has used the Company’s internal funds To invest in this stock auction The proposed price is appropriate for the future growth potential of BAFS. The Company and the financial advisor have conducted an overview of the aviation business and aviation fuel services. Business performance BAFS business plan and goals which align with the Company And able to support each other Whether it is investing in renewable energy power plants Digital technology And businesses related to fuels and energy. The Company, as a new shareholder of BAFS, is ready to fully support BAFS and is confident that BAFS will return to its strong and sustainable growth.
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