Engie: sells its stake in Glow in Asia-Pacific zone
(CercleFinance.com) - Engie has announced that it has signed a divestment agreement with Thailand's Global Power Synergy Public Company (GPSC) to sell its 69.
1% stake in Glow, an independent power producer listed on the Thai Stock Exchange.
This transaction, which is worth 2.6 billion euros, is subject to conditions precedent, including approval from GPSC's shareholders and obtaining the necessary regulatory approvals. Its closure is scheduled for the end of 2018.
This sale is part of Engie's strategy to reduce its carbon footprint. Thanks to this deal, the energy group's total installed coal-based capacity will be reduced by 14%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
1% stake in Glow, an independent power producer listed on the Thai Stock Exchange.
This transaction, which is worth 2.6 billion euros, is subject to conditions precedent, including approval from GPSC's shareholders and obtaining the necessary regulatory approvals. Its closure is scheduled for the end of 2018.
This sale is part of Engie's strategy to reduce its carbon footprint. Thanks to this deal, the energy group's total installed coal-based capacity will be reduced by 14%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.