Oct. 29 at 6:14 PM
Shares of BKV Corporation rose Wednesday after the company announced plans to increase its stake in the BKV-BPP Power joint venture from 50% to 75%.
BKV signed a definitive agreement to acquire half of Banpu Power US Corporation’s interest in the energy joint venture. The deal values the acquired stake at about
$376 million, minus 25% of BKV-BPP Power’s net debt at closing, which stood at roughly
$581.8 million as of September 30, 2025.
The purchase will be funded 50% in cash and 50% in BKV common stock, valued at
$21.66 per share. The cash portion will be financed through a mix of available cash and borrowings under BKV’s existing
$800 million reserve-based lending facility.
“We are pleased to reach an agreement with BPPUS to acquire the majority stake in Power JV, enhancing our strategic flexibility and accelerating growth potential in our energy business,” said BKV CEO Chris Kalnin.
$BKV