Energy conglomerate Bangchak Corporation Plc (BCP) has announced the closure of the deal to purchase Esso Thailand Limited from ExxonMobil Asia Holdings Pte. The transaction, valued at 22.6 billion baht, was completed yesterday through the purchase of 65.99% of shares at a price of 9.89 baht per share. The move significantly enhances BCP's asset portfolio, comprising refineries, fuel logistics, retail and land. In a bid to consolidate ownership, Bangchak on Tuesday announced a buyout of the remaining 34.01% of shares via a tender offer from investors in the Stock Exchange of Thailand at 9.89 baht per share. The purchase is scheduled to take place between Sept 8 and Oct 12, with estimated spending of 11.65 billion baht. The deal to acquire the entirety of Esso Thailand is valued at 34.25 billion baht. This comprises the purchase from ExxonMobil Asia Holdings for 22.6 billion baht and the 11.65 billion for the tender offer.
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