Bangkok:  Ratchaburi Electricity Generating Holding Public Co., Ltd. (RATCH) today announced that Ratch-Australia Corporation Limited (RAC) has liquidated its 14.03% equity in Loy Yang A, a coal-fired power plant in Australia, to AGL Energy Limited (AGL), a major shareholder of the plant. RAC realized AUD 120 million revenues from the transaction equivalent to THB 3.9 billion approximately.

Mr. Noppol Milinthanggoon, Chief Executive Officer of Ratchaburi Electricity Generating Holding Public Co., Ltd. said that "RATCH’s Board of Directors and management made thoroughly decision based on RATCH and RAC maximum benefits. It takes consideration not only on cash gains helping strengthen RAC’s cash flow, but also on appropriateness and adequacy of overseas portfolio control policy of the company. Thanks to the transaction, RAC has increasingly its potential for acquiring and investing in other projects. More importantly, the company wishes this success will lead to more cooperation with AGL, an Australian leading retailer and off-taker, in many business aspects in the future".                

"Since 29 June, RAC has received THB 3.9 billion payment consisting of AUD 20 million cash (equivalent to THB 650 approximately) and 15-year Scheduled Payment Option Agreement of present value about AUD 100 million (equivalent to THB 3.25 billion approximately). It is a significant return which will eventually enhance RAC’s dividend payment capability to RATCH”, said Mr. Noppol.
      
At present, RATCH holds 80% stakes in RATCH-Australia Corporation Limited through RH International (Singapore) Corporation Pte. Ltd. It has planned for additional investments in three wind farms, with an accumulative generating capacity of 300 megawatts and explored more investments in forms of share purchase, Merger and Acquisition or greenfield projects both in Australia and New Zealand. 

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Media Contact:
Public Relations Department
Wiwan Phayakvichien, Nuannang Changadveja
Tel: 0 2794 9941, 0 2794 9944  

E-mail: wiwanp@ratch.co.th