Engie denied billion sale in Thailand

French energy giant Engie has been denied approval to sell a large energy producer in Thailand. Authorities are concerned that the sale will create a monopoly.

Photo: Siemens

The French energy giant Engie has received a clear 'no' on its plan to sell its stake Thailand-based energy producer Glow. Engie must accept this rejection after Thai authorities announced their decision regarding the sale, which had been expected to meet with official approval.

Engie wanted to sell its 69.1 percent share in Glow to the company Global Power Synergy, a subsidiary of the state-owned energy giant PTT. However, Thai authorities chose to withhold approval after having analyzed the significance of the sale.

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