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DFDL Tax advises CTL II on its acquisition of Kampong Cham-Kratie Transmission Project

Congratulations to Cambodian Transmission II Co., Ltd (“CTL II”) on signing an agreement with Diamond Power Ltd (“DPL”) to acquire DPL’s 230kV Kampong Cham-Kratie Transmission System project.

DPL, which was established in Phnom Penh in 2010, is a unit of Bursa Malaysia Securities Berhad Main Market listed PESTECH International Berhad. CTL II is a subsidiary of Leader Energy under the parent company of HNG Capital. Leader Energy is one of the pioneers in the power industry and has conducted its first-ever IPP concession agreement with Electricite Du Cambodge (“EDC”) in 1994.

This acquisition, which is worth USD118 million between the two private entities, was officially announced in October 2022. Leader Energy’s green energy investment portfolio will continue to expand and be in line with the net zero emission goals while powering up cities in Asia Pacific for a sustainable environment and future.

DFDL acted as tax advisor to CTL II for the transaction and was led by Clint O’Connell (Partner and Head of Cambodia’s Tax and Customs Practice Group).