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Egco poised to acquire 25% holding in BLCP.
Byline: Yuthana Praiwan
Mar. 1--CLP Power, the major power producer in Hong Kong, has decided to sell its 25 percent stake in BLCP, the operator of a coal-fired power plant in Rayong, to Electricity Generating Plc (Egco).
Following the deal, Egco, a listed subsidiary of Egat Plc, would be used as a tool to expand CLP's business in the region, said Egco president Visit Akravinak.
Details of the deal, including the value, were not available but are expected to be settled in the second quarter of this year. Negotiations are also under way to sell the remaining 25 percent stake in BLCP to Egco.
Once completed, Egco would hold a 50 percent ...
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Source: HighBeam Research, Egco poised to acquire 25% holding in BLCP.