Global Power Synergy Public Company Limited (SET:GPSC) entered into a share purchase agreement to acquire an additional 9.38% stake in Ratchaburi Power Company Limited from Chubu Electric Power Company International B.V. and Toyota Tsusho Corporation (TSE:8015) for approximately THB 470 million on September 5, 2025. Upon completion, Global Power Synergy Public Company Limited will own 24.38% stake in Ratchaburi Power Company Limited. The completion of the Share Purchase Transaction shall be subject to the fulfillment of all conditions precedent as stipulated in the Share Purchase Agreement. Upon completion of the transaction, Ratchaburi Power Company Limited will change its status from an investment in equity instruments measured at fair value through other comprehensive income to an associate of the Company.

Global Power Synergy Public Company Limited (SET:GPSC) completed the acquisition of an additional 9.38% stake in Ratchaburi Power Company Limited from Chubu Electric Power Company International B.V. and Toyota Tsusho Corporation (TSE:8015) on December 24, 2025. All conditions of the transaction has been fulfilled.