Global Power Synergy Public Company Limited (SET:GPSC) agreed to acquire Global Renewable Power Co., Ltd., from PTT Global Management Company Limited for approximately THB 1275 million on December 21, 2023. GRP will become the Company?s subsidiary once the acquisition of shares in GRP is completed. Upon completion of the certain conditions precedent or such conditions precedent being waived in writing by the relevant parties.

The significant conditions precedent include the following (i) The relevant government agency has approved GRSC to purchase the sale shares from PTTGM (ii) No material adverse event affecting the assets, financial position, or the business of GRP and/or GRP?s subsidiaries have occurred. The transaction is expected to close second quarter of 2024.