Bangchak acquired Esso for approximately 30,000 million Baht.

On 11 January 2023, the Board of Directors Meeting of the Company No. 1/2566 was held and unanimously approved to propose to the General Meeting of Shareholders to consider the approval of 65.99 percent of the total number of ESSO shares.

• The share is set to be 8.84 million baht per share which is calculated from Esso’s business value subtracted from the debt. The payment period for the shares is approximately August 2023, or at the latest at the end of 2023.
• The total amount of money if combined with Tender Offer is 30,608 million baht for Bangchak to take over Esso, but Esso’s business value is 55,000 million baht. 
• Bangchak is financially ready to buy Esso shares because they have financial status and cash of approximately 40 billion baht with a credit loan approved by financial institutions. However, Bangchak will still have to manage their finances again because if all loans are used, the debt will increase from 0.6times to 1.7times.

From now on, Bangchak will play an important role in the power industry group. In addition, Bangchak will be able to expand in a wider variety of businesses compared to PTT Group’s gas stations.