GPSC acquires additional 9.4% stake in RPCL

RPCL is now classified as an associate rather than an equity investment.

Global Power Synergy Public Company Limited (GPSC) has completed its share purchase agreement for an additional interest in Ratchaburi Power Company Limited (RPCL).

In a company statement, GPSC said the deal with Chubu Electric Power Company International B.V. and Toyota Tsusho Corporation increased its stake in RPCL from 15% to 24.375% of the total issued and paid-up shares.

“As a result, the investment in RPCL has been changed from an equity investment measured at fair value through other comprehensive income to an associate of the company,” GPSC said.

“This investment is in line with the company’s strategic plan to enhance long-term value creation for the company and its shareholders,” it added.