10:34 AM EDT, 10/29/2025 (MT Newswires) -- BKV (BKV) said Wednesday that it has agreed to acquire from Banpu Power US half of its interest in their joint venture BKV-BPP Power, raising its stake to 75%.

Under the deal, BKV will pay $376 million minus 25% of the venture's net debt, which stood at $581.8 million as of Sept. 30. The payment will be split between cash and BKV common stock priced at $21.6609 per share.

BKV said it will fund the cash portion through available liquidity and borrowings under its existing reserve-based lending facility, according to a joint statement.

The transaction is expected to close in Q1 of 2026, pending shareholder approval and other customary conditions.

Shares of BKV were up 2.6% in recent Wednesday trading.

Price: 20.90, Change: +0.61, Percent Change: +3.03