Manuel Baigorri, Baiju Kalesh and Vinicy Chan, Bloomberg News
(Bloomberg) Global Power Synergy Pcl, the listed power unit of Thailandâs state-owned PTT Group, has acquired a stake in Indian renewable energy provider Avaada Energy Pvt for about 14.8 billion baht ($453 million).
Global Power completed the purchase of about 41.6% stake in Avaada through subscription of new shares, the company said in a statement late Tuesday, confirming an earlier Bloomberg News report. The transaction aligns with the firmâs international growth strategy in renewable energy, it said.
The deal comes within days of PTT Global Chemical Pcl, another of PTT Groupâs listed units, agreeing to acquire Allnex Holding GmbH, a European specialty chemicals maker owned by private equity firm Advent International, for 4 billion euros ($4.75 billion). PTT Globalâs Allnex purchase could be the biggest overseas acquisition by a Thai company since Thai Beverage Pclâs takeover of Fraser and N
PTT Global Buys European Chemicals Maker for $4 75 Billion
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PTT to buy European chemical maker for US$4 75bn
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Here are the Winners and Losers From Singapore’s Targeted Budget
Bloomberg 2/17/2021 © Photographer: ROSLAN RAHMAN/AFP People at Changi International Airport in Singapore.
(Bloomberg) Singapore’s budget targeting just a few sectors of the country’s pandemic-hit economy for support will do little to significantly boost the country’s lagging stock market although some sectors like aviation and green energy are set to benefit, say analysts.
The benchmark Straits Times Index, among Asia’s worst performing gauges last year, dropped as much as 0.9% on Wednesday after closing near the day’s low in the previous session. Analysts see aviation stocks as key winners, and property stocks, a key component of the benchmark, as losers.