IEC Green Energy to Acquire 49 Percent of Gidec for 147 Million Baht

Thailand’s IEC Green Energy Company Ltd. will acquire a 49 percent stake in Gidec Co., a waste-to- energy project developer, for 147 million baht ($4.85 million).

IECG, a unit of International Engineering Pcl that distributes mobile phones, will buy 980,000 shares from Gidec, IECG said today in a filing to the stock exchange.

IECG will use working capital to buy the shares from Gidec director Panya Watcharaboon, it said.

Gidec is developing a 6-megawatt waste-to-energy project in Hatyai, Songkhla province and will sell the power to the Provincial Electricity Authority, IECG said.

To contact the reporters on this story: Chisaki Watanabe in Tokyo at

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.