Global Power Synergy's Acquisition of Energy Recovery Unit Delayed

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Global Power Synergy (SET:GPSC) said the acquisition of an Energy Recovery Unit from Thai Oil was not completed by Aug. 31, according to a Tuesday filing with the Thailand Exchange.

The power generation company cited certain conditions precedent under the asset purchase agreement as the reason behind the delay.

The company is now in discussions with Thai Oil to map out next steps to proceed with the discussions to conclude the acquisition, eyeing talks by Oct. 30 or another mutually agreed date.

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