Banpu sells investment in BVI

Banpu Plc has divested its entire 17.03 per cent stake in Asian American Gas Inc (AAGI) to China CBM Investment Holdings Ltd for the net gain of US$8.4 million or Bt278 million.

Banpu said in the statement to the Stock Exchange of Thailand that its wholly-owned subsidiary BP Overseas Development Co Ltd owned the 32.53 million shares in AAGI.

AAGI was registered in British Virgin Islands to invest in 2 coal-bed methane exploration and production projects in China. Both projects are in the exploration stage and still need large amount of capital investment.

"Thus, the divestment of AAGI will

provide further financial flexibility to the company to pursue its strategic investment in coal and power businesses in China," the company said.

- The Nation

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Banpu sells investment in BVI

Banpu Plc has divested its entire 17.03 per cent stake in Asian American Gas Inc (AAGI) to China CBM Investment Holdings Ltd for the net gain of US$8.4 million or Bt278 million.

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