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Monday, February 6, 2023

Bangchak to buy ExxonMobil’s Esso Thailand stake for about $603 mln

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BANGKOK — ExxonMobil has agreed to sell its two-thirds stake in Esso Thailand to Thai energy firm Bangchak Corporation, the companies said, in a deal valued at about 20.1 billion baht ($603 million).

Bangchak shares closed up 9% while Esso Thailand, which closed at 11.2 baht on Wednesday, fell 17% after the companies made the announcement in separate statements.

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