Bangchak closes a $270 million deal to acquire Chevron Hong Kong, establishing "Bangchak Hong Kong" to expand its North Asian presence.

Bangchak announced the completion of its acquisition of all shares of Chevron Hong Kong Limited for US$270 million, and will rename the company “Bangchak Hong Kong.” Hong Kong will serve as its base for trade and commerce in North Asia, connecting its retail, trading, and marine fuel networks to support global expansion.

Date: 30 June 2569 Bangchak Corporation Public Company Limited (BCP) Announcing the successful acquisition of 100% of Chevron Hong Kong Limited (CHK) from Chevron Companies (Greater China) Limited (CCGC) for US$270 million, or approximately 8,300-8,379 million baht. The transaction was completed on June 30, 2569. The company will be renamed Bangchak Hong Kong (BHK) to serve as the group's trading and commercial base in North Asia.

Mr. Chaiwat Kovavisarach, Chief Executive Officer of Bangchak Group. The CEO of BCP stated that this acquisition is part of Bangchak Group's long-term growth strategy, aimed at expanding internationally and strengthening its energy trading capabilities. Hong Kong, a key financial, trade, shipping, and aviation hub in Asia, will facilitate business expansion and network growth in regional markets.

Bangchak Hong Kong has a business base encompassing retail, trading, and marine fuel businesses. This will connect with the Bangchak Group's business network, enhance its capabilities in North Asia, and support business growth in global markets.

Furthermore, the company views this acquisition as creating opportunities to develop bio-products and low-carbon energy to meet market demands and future business opportunities under the energy transition trend.

Mr. Chaiwat said that the acquisition of Bangchak Hong Kong is another significant step in regional growth. The company will serve as a trading and commercial hub in North Asia, connecting retail, trading, and marine fuel businesses with the group's network and supporting global market growth.

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