Monday, January 18, 2021

Gulf to acquire over 70% stake in GMIM

Jan 14. 2021
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By The Nation

Gulf Energy Development (Gulf) will acquire 70.5 per cent of Global Mind Investment Management (GMIM)'s ordinary shares from Nech Opportunities Fund VCC worth US$40 million (Bt1.2 billion) on Thursday.

“The objective of this acquisition is to further expand investments in Vietnam,” said Yupapin Wangviwat, Gulf’s executive director and chief financial officer.

She added that the transaction will be made through Kolpos, Gulf’s fully-owned subsidiary that was incorporated in Singapore.

GMIM, a holding company set up in Singapore, has both direct and indirect investments in renewable energy businesses such as solar energy, hydropower and wind energy, infrastructure businesses such as cargo port and warehouse, as well as agriculture-related businesses in Vietnam.

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