BANGKOK: Gulf Energy Development has informed the Stock Exchange of Thailand that the company’s board of directors had approved a 8.92 billion baht (US$298mil) budget to boost its Intouch Holdings (Intuch) shareholding by up to 5%.
The move by Thailand’s top private power producer is part of an expansion that also saw Gulf take a 40% stake in PTT Natural Gas Co at a cost of 2.7 billion baht earlier this month.
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