Gulf Wins SET Deal of Year Award for INTUCH Merger
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Gulf Development Plc, led by Executive Director Bang-on Suttiphatthanakit, accepted the Deal of the Year award for Mergers & Acquisitions at the SET Awards 2026. The award honors the completed merger between Gulf Energy Development Plc and Intouch Holdings Plc, finalized on April 1, 2025. SET Chairman and CEO Asadej Kongsiri presented the award at the Stock Exchange of Thailand headquarters.
The merger between Gulf Energy and INTUCH was a large, complex transaction involving listed companies in both Thailand and Singapore, as well as multiple shareholders and stakeholders. The deal required careful management at every stage, prioritizing the rights and interests of all parties. The consolidation marks a significant step in restructuring the corporate group for greater clarity, enhancing capital and asset management efficiency, and increasing agility in business operations and investment to support GULF's long-term growth across energy, infrastructure, digital cloud, AI, and telecommunications.
This award continues a track record of strategic deal success for GULF. In 2022, Gulf Energy won the same M&A Deal of the Year award for the tender offer of INTUCH and ADVANC, which paved the way for the eventual restructuring and merger completed in 2025.
The Deal of the Year Awards are part of the Business Excellence category of the SET Awards, divided into three types: fundraising deals over 3 billion baht, fundraising deals up to 3 billion baht, and M&A deals. Judging criteria cover five dimensions: Creativity & Challenges, Strategic Movement, Positive Impact, Governance, and Value Creation.
The SET Awards, organized by the Stock Exchange of Thailand and the Banking & Finance Journal since 2003, recognize outstanding listed companies, executives, and capital market professionals. The 2026 ceremony marks the 23rd year for the Business Excellence group, featuring eight award categories including Deal of the Year to promote achievements that elevate the quality of Thailand's capital market.
