<article>Banpu Power expects to use the IPO proceeds to repay debt to the parent firm, while Thai Union buys entire shares in Tri-Union Frozen Products.</article>

Banpu Power expects to use the IPO proceeds to repay debt to the parent firm, while Thai Union buys entire shares in Tri-Union Frozen Products.
<h3>Banpu Power&#8217;s IPO proceeds to go toward debt repayment</h3>
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=banpu+power">Banpu Power</a>, a subsidiary of the listed energy firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=banpu">Banpu Pcl</a>, plans to spend most of the proceeds from an initial public offering (IPO) to repay about 12 billion baht ($346.8 million) to the parent before seeking more loans to finance its expansion.
It has not finalized the IPO price yet but it could be in the range of 18-21 baht apiece. Banpu’s chief executive Somruedee Chaimongkol said, the firm intends to invest around $700-$750 million to increase power capacity to 4,300 MW by 2025.
“Two-third of our investment will go toward the projects in Thailand and China. The rest will spread in Japan, Vietnam, Laos, Indonesia and Australia,” she said.
Currently, it has stakes in power plants with generating capacity of 1,913 MW, including a coal-fired power plant in Laos and solar farms in China and Japan.
Also read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/thailands-banpu-power-expects-to-raise-600m-via-ipo-17178/">Thailand’s Banpu Power expects to raise $600m via IPO</a>
<h3>Thai Union buys entire shares in Chicken of the Sea</h3>
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=thai+union">Thai Union Pcl</a>, the country&#8217;s largest frozen seafood producer, acquired the remaining 18 per cent interest in Tri-Union Frozen Products from California-based Diversified Food Products LLC for 1.6 billion baht ($46.2 million), according to the filing to the Stock Market of Thailand last week.
Prior to the acquisition, Thai Union held 82 per cent in TUFP through its wholly-owned subsidiary Thai Union International Inc.
The filing stated that this acquisition was part of its attempt to fully integrate its interest in all its subsidiaries globally for better management and alignment of the group’s strategies.
TUFP is the largest frozen seafood importer and distributor in the United States, operating under the “Chicken of the Sea Frozen Foods” brand. It main products include shrimp, lobster and pasteurized crab meat.
The company engaged KPMG to determine the fair market value based on the income approach with a discount of 20 per cent, it cited.
Over the past six months, Thai Union has completed two acquisitions, which are the acquisition of 40 per cent shares in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Avanti+Frozen+Foods+">Avanti Frozen Foods Private Limited</a> in India and the acquisition of the assets of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Les+Pecheries+de+Chez+Nous">Les Pecheries de Chez Nous</a>, the lobster processor in Canada.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/thai-union-raises-bond-issue-size-to-285m-on-strong-demand-47196/">Thai Union raises bond issue size to $285m on strong demand</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/thai-union-to-buy-canadian-lobster-processor-46550/">Thai Union to buy majority stake in Canadian lobster processor</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/thai-union-eyes-shrimp-sector-ma-investments-in-bangladesh-indonesia-36690/">Thai Union eyes shrimp sector M&amp;A, investments in Bangladesh, Indonesia</a>

Banpu Power expects to use the IPO proceeds to repay debt to the parent firm, while Thai Union buys the remaining stakes in Tri-Union Frozen Products.

Thailand: Banpu Power to repay debt; Thai Union buys entire shares of TUFP

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Thailand: Banpu Power to repay debt; Thai Union buys entire shares of TUFP

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