BAFS Clean Energy Corporation Company Limited agreed to acquire 99.99% stake in PDI Energy Co. Ltd from Padaeng Industry Public Company Limited (SET:PDI) for approximately THB 770 million on August 9, 2021. The purchase price will be paid in cash. The transaction will be funded using the internal cash flow of Bangkok Aviation Fuel Services Public Company Limited as a capital source and/or procuring other capital sources as necessary and appropriate, such as procuring a credit facility from a financial institution. The share purchase agreement is expected to enter on August 19, 2021. For the period ended December 31, 2020, PDI Energy Co. Ltd had total assets of THB 1.6 billion, net income of THB 209.7 million and shareholders' equity of THB 389.3 million. The transaction is subject to approval from the Board of Directors, shareholders of Bangkok Aviation Fuel Services Public Company Limited, parent of BAFS Clean Energy Corporation Company Limited, Board of Directors and shareholders of PDI Energy Co. Ltd. The Board of Directors of Bangkok Aviation Fuel Services Public Company Limited resolved to approve the transaction on August 9, 2021. As of September 23, 2021 shareholders of PDI Energy and Bangkok Aviation approved the transaction. The transaction is expected to be completed within the fourth quarter of 2021. I V Global Securities Public Company Limited acted as the financial advisor for Bangkok Aviation Fuel Services Public Company Limited.

BAFS Clean Energy Corporation Company Limited completed the acquisition of 99.99% stake in PDI Energy Co. Ltd on September 28, 2022.