Energy conglomerate Bangchak Corporation Plc (BCP) expects its buyout of Esso (Thailand) Plc for 55.5 billion baht to pave the way for higher revenue, gaining a larger market share in the oil retail business and lower costs, though the new asset acquisition will increase its debt.
Chaiwat Kovavisarach, group chief executive and president of BCP, views the purchase price as "reasonable", though its debt-to-equity ratio will rise to 1.7 times, up from 0.6 times.
