We are pleased to announce the successful closing of PTT Natural Gas Distribution Company Limited (“PTT NGD”)’s acquisition of 50% of the total issued shares in Gulf WHA MT Natural Gas Distribution Company Limited, completed on 14 March. As a subsidiary of PTT Public Company Limited, PTT NGD acquired 35% of the shares from Gulf Energy Development Public Company Limited and 15% from MITG (Thailand) Company Limited (“MITG”). This transaction was structured through a dual acquisition framework designed to ensure full regulatory compliance and effectively mitigate potential risks.
The matter presented a unique challenge due to the close relationship between the seller and purchaser, as the seller was an indirect shareholder of the purchaser. The transaction also expanded beyond PTT NGD’s initial plan when MITG expressed its intention to sell shares, requiring us to adapt our strategic approach accordingly. Our team’s unwavering dedication and expertise ensured that PTT NGD’s interests were comprehensively protected, ultimately delivering a successful and well-structured acquisition.
The transaction was led by Patraporn Milindasuta and Haruethai Boonklomjit, with key contributions from Buncha Krungrirun, Naphatsawan Saengsikaeo, Nichaya Soothipan, Salisa Keeratikrittiyanon, and Nattima Preedawannakul.