Tai Sin Electric announces BayWa acquisitions for Southeast Asia expansion

This will allow Tai Sin Electric to tap into SEA’s energy market.

Tai Sin Electric Limited has announced the acquisition of the entire issued share capital of both BayWa r.e. Solar Systems Co., Ltd. in Thailand and BayWa r.e. Solar Systems Corporation in the Philippines.

“The Board is of the view that the Proposed Acquisitions are in line with the Group’s strategy to expand into sustainable and future-oriented businesses. The Board further believes that the Proposed Acquisitions will enable the Group to capitalise on the growth potential of the green energy sector in the Southeast Asia region,” Tai Sin Electric said in a bourse filing.

The companies to be acquired are engaged in the business of wholesale distribution of renewable energy equipment in Southeast Asia.

Tai Sin Electric’s consideration payable for the share sale is S$15.72m (USD 12.3m). It will hold 99% of the shares in the Thai firm and 99.99% of the Philippine firm once the transaction is completed.

Meanwhile, the remaining 1% of shares in the Thailand target shall be held by a subsidiary of Tai Sin Electric Li, whilst the remaining 0.01% of shares in the Philippines target shall be held by directors of the Philippines Target.

The acquisition will be funded by Tai Sin Electric’s internal resources and by way of external financing from bank loans.

Following the completion of the takeover, the two target companies will become subsidiaries of the group.

Completion shall take place on 3 November 2025.