IEC buys remaining stakes in local power plant for $2.81m
Thai-listed International Engineering Pcl (IEC) is acquiring the remaining 25 per cent stake in IEC Sakaeo 1 (SK 1), a local power plant operator, from existing shareholders. The financial consideration for the deal is 100 million baht ($2.81 million).
Attawooth Laohapakdee, IEC senior executive vice president, said, this acquisition will help it manage operating costs more efficiently, resulting in higher net profit from the project.
It plans to optimise fuel management by lowering the costs while maintaining the same capacity of over 8 MW. He said, the project’s internal rate of return is about 13.12 per cent while the payback period is 6.79 years. Following the transaction, SK 1 will become a wholly-owned subsidiary of IEC.
Source: http://www.dealstreetasia.com/stories/thailand-iec-buys-power-plant-2-81m-jas-asset-ups-ma-budget-42713/
