Phetmanee Tantipana
Khronos Advisory
Electricity Generating PLC
Deal Type
Acquisition
Sector
Business Services
Completion Date
18th December 2023
Deal Value
$194m
Company Background
Electricity Generating PLC (EGCO) is the first independent power producer in Thailand, incorporated by Electricity Generating Authority of Thailand (EGAT). EGCO is a holding company with investment in power generation and supply as well as comprehensive energy services providing operation, maintenance, engineering and construction services to power plants and other industries in Thailand and overseas. EGCO Group currently runs 32 operating plants and 9 projects under construction and development in Thailand and overseas with total installed capacity of 7,023 MW Equity.
Deal Summary
Phoenix Power B.V., a wholly owned subsidiary of EGCO, has successfully subscribe to additional share in PT Chandra Daya Investasi (“CDI”), an infrastructure and utility investment company in Cilegon, West Java, Indonesia. CDI portfolio of businesses encompassing electricity generation and distribution, water treatment and distribution and tanks and jetty management.
Value Added
Khronos Advisory has supported EGCO, as a buy-side advisor, in subscribing to a 30% equity stake in CDI for USD 194 million. We have assisted the client through the initial evaluation and further transaction processes including full due diligence and agreement negotiations. This transaction has allowed EGCO to integrate into a promising market, Indonesia, and enhance their partnership with PT Chandra Asri Petrochemical Tbk, the Indonesia’s largest integrated petrochemical company.
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