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Friday, May 3, 2024

Bumper year for mergers and acquisitions

Firms in several sectors expanded operations at home and overseas.

Esso buyout

Bangchak Corp completed its purchase of shares in Esso Thailand in October via a tender offer, valued at 3.54 billion baht, leading to 76.3% ownership of Esso Thailand.

Bangchak plans to change the name of Esso-owned petrol stations to Bangchak, starting in November.

The energy conglomerate wants to create synergy by combining its business with Esso Thailand and anticipates gaining an additional 3 billion baht from the move by 2025.

Earlier this year, Bangchak concluded the purchase of a 65.99% share in Esso Thailand, the operator of Esso petrol stations, from Esso Asia Holdings Pte for 22.6 billion baht.

The company also announced…

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