The consideration also includes a leakage adjustment amount in US dollars, which is an amount to be agreed between Tai Sin and the seller, inter alia any dividend or distribution or other return of capital declared.
The completion of the sale is expected to take place on Nov 3, and will be funded by internal sources of Tai Sin and by way of external financing from bank loans.
Tai Sin says that the proposed acquisitions are in line with its strategy to expand into sustainable and future-oriented businesses, and will enable the group to capitalize on the growth potential of the green energy sector in Southeast Asia.
Shares in Tai Sin Electric closed 1 cent lower or 1.709% down at 57.5 cents on Sept 18.
