agency Stellar oil refining Limited liability joint stock company or SPRC He revealed that yesterday’s board meeting approved an investment of US$155.8 million or the equivalent of 5,562.5 million baht in the petroleum products distribution business. Divided into a business value of US$90 million, or equal to 3,212.4 million baht, and the net working capital value as of December 31, 2021, equal to 2,350.1 million baht, or equal to US$65.8 millions.
this investment consists of the following operations:
Acquired 100% of the shares of Chevron Lubricant (Thailand) Limited, a petroleum products distribution company, from (1) Chevron Asia Pacific Holdings Limited (CAPHL) (2) CT Nominee Holdings (I) LLC (CTN1). ) and (3) CT Nominee Holdings (II) LLC (CTN2) fee of USD 16.8 million or THB 599.6 million equivalent.
2. Acquisition of 2,877,500 common shares and 5,528,430 preferred shares of Thai Petroleum Pipeline Co., Ltd. (Thappline), representing 9.91% of total shares from CAPHL. Settlement due for USD 45.0 million or THB 1,606.2 million
3. Acquire shares and lend money to newly formed companies One of the new companies will buy from the company 19 plots of land used for the distribution of petroleum products. Star Holdings Co., Ltd. (SHC) includes loans to be made to one of the new companies for a total amount not exceeding US$28.2 million or equivalent to THB 1,006.6 million.
The Board of Directors Approval of the convocation of the extraordinary shareholders’ meeting No. 1/2023 to be held on January 31, 2023 at 9:30 am and sets December 20, 2022 as the date for determining the names of the shareholders entitled to participate in the Meeting Extraordinary Shareholders’ Meeting n. 1/2023 (Record Date).
