BKK:BCP

Bangchak Unit Closes Acquisition of Chevron Hong Kong

Bangchak (BKK:BCP) unit Bangchak Hong Kong completed the acquisition of 100% of the ordinary shares of Chevron Hong Kong, according to a Tuesday Thailand Exchange filing.Following the transaction, Chevron Hong Kong has become a subsidiary of the Thai energy company.Bangchak said it will rename the entity to Bangchak Hong Kong as part of the post-acquisition process.Bangchak shares gained over 1% in recent trade.

Bualuang Securities Downgrades Bangchak to Hold From Buy; Price Target is THB38

Kasikorn Securities Downgrades Bangchak to Neutral from Outperform; Price Target is THB33