Nizza Plastics Sells Stake in Solar Power Plant Project in THB1,254.37M Transaction

Hunton & Williams’s Bangkok office advised Nizza Plastic Company Limited, a Thai polyvinyl chloride manufacturer and distributor, for the sale of its 49 percent of stakes in five solar power plant project companies to a subsidiary of Superblock Public Company Limited, a listed company on the Stock Exchange of Thailand investing in several solar power business.

After the closing, Nizza Plastic will continue to have 51 percent of stakes in the project companies. The project companies entered into the power purchase agreements (PPAs) with the Provincial Electricity Authority for 12 solar power plants situated at various locations in Thailand, having an electricity generating capacity of 48 MW in total. The transaction was closed on 4 October 2016, with the transaction value of THB 1,254.37 million. This representation included end-to-end M&A process and the secured obligation.

The transaction was led by Bangkok partner Manida Zinmerman, along with associates Sappawit Jansuparerg, Teerasak Petchpaibool, and Pitiporn Anantaset.