The consideration also includes a leakage adjustment amount in US dollars, which is an amount to be agreed between Tai Sin and the seller, inter alia any dividend or distribution or other return of capital declared.
Tai Sin Electric is proposing to purchase the entire issue share capital of BayWa r.e. Solar Systems Co and BayWa r.e. Solar Systems Corporation, which are incorporated in Thailand and the Philippines respectively.
The consideration amount for the sale shares is US$12.3 million, or about $15.7 million. This is made up of US$5.7 million in sale shares amount; US$4.2 million which is an amount of intra-group loan for the Thai target; and US$2.5 million which is an amount of intra-group loan for the Philippines target.
