Banpu exits Ratchaburi Electricity via $223 million block

The divestment comes as the Thai power producer and coal miner is close to taking full control of Australia's Centennial Coal.

The Banpu Public Company and Banpu Power Company have sold their stakes in Thailand’s Ratchaburi Electricity Generating Holdings, raising a combined Bt6.68 billion $223 million. The sale was completed after the Thai market closed yesterday and, according to a banker, marked the largest ever overnight placement in Thailand.

The deal came as most Asian markets ended a four-day losing streak and headed higher again, although Ratchaburi’s defensive nature as an electricity producer offering a steady income and a high...

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