Connect with us

Investment

Lombard Investments banks $170M stake in Central Pattana

Lombard Investments announces his final exit of its investment in Central Pattana PCL, Thailands leading shopping mall developer, earning a return of 7.1 times its $24 million investment, for a total return of $170 million.

Published

on

centralworldbangkoknight

Lombard Investments announces his final exit of its investment in Central Pattana PCL, Thailands leading shopping mall developer, earning a return of 7.1 times its $24 million investment, for a total return of $170 million.

The exit was accomplished through an overnight placement managed by Credit Suisse Group to Thai and international investors, several of whom have interest in supporting Central Pattanas long term strategy. Lombard invested in Central Pattana in 2003, and worked with the controlling family to implement the turnaround of CentralWorld Plaza, Thailands largest financially troubled shopping mall, inaugurating a new period of landmark, strategic growth for the company. Today, Central Pattana develops and manages state-of-the-art, architecturally high quality and innovatively managed retail malls that rank among the very best in the world.

centralworldbangkoknight

Central World, Bangkok's largest shopping mall, and second largest in Asia, is a major achievement of Central Pattana familiy own group

Lombards Kanchit Bunajinda said, “We are extraordinarily proud of our eight-year partnership with the Chirathivat family, the founders and major owners of Central Pattana. In 2003, they conceived the vision to remake CentralWorld, redeveloping it into Southeast Asias largest shopping mall and mixed-use urban commercial complex. This remarkable achievement has been recognized by the International Council of Shopping Centers who selected CentralWord to receive its “Best of the Best Award for Development and Design Excellence”.

We were fortunate to have been invited to help finance this landmark effort, and to have worked side-by-side with this remarkable company and its professional team during the redevelopment of CentralWorld and as Central Pattana grew from 9 malls to 16 malls today. Looking forward, we are confident of the companys continued success, both in Thailand and offshore.”

About Lombard:

Lombard is a leading international private equity investment manager with offices in Bangkok, Hong Kong and San Francisco, and extensive working relationships in Manila, Ho Chi Minh City, Shanghai and Taipei.  Formed in 1985, Lombard has made more than 90 controlling and significant minority investments throughout Asia and North America.  The firms investors include some of the worlds largest and most respected financial institutions, major pension funds and corporations, as well as family investment offices in Asia, North America and Europe.  The investment in Central Pattana was made through Lombards Thailand Equity Fund. www.lombardinvestments.com

About Central Pattana:

Central Pattana is Thailands pioneer and market leading developer of modern shopping malls and now manages a portfolio of sixteen mid to high-end retail shopping malls, six office buildings, two hotels, and two residential projects.  The company has grown dramatically through innovative planning, design and financing, and its has achieved several significant corporate milestones including the 2005 launch of CPN Retail Growth Leasehold Property Fund “CPNRF”, Thailands first retail REIT and the second largest retail REIT offering in Southeast Asia, in addition to its success with CentralWorld Plaza.  Today, Central Pattana is developing four additional shopping malls in Thailand, one in Bangkok and three in provincial markets to be opened in 2011-2013, and is expanding offshore.  Of considerable note, the publicly traded company has received the “Excellent” 5 Star Award for Corporate Governance from the Thai Institute of Directors in cooperation with the Stock Exchange of Thailand. www.cpn.co.th

SOURCE Lombard Investment

RELATED LINKShttp://www.cpn.co.th http://www.lombardinvestments.com

Environment

Asian cities most threatened by environmental risk

According to the first instalment of Cities@Risk series, which ranks the world’s 576 largest urban centres on their exposure to a range of environmental and climate-related threats, 99 of the world’s 100 riskiest cities are in Asia, including 37 in China and 43 in India.

Published

on

Companies operating and investing in Asian cities are going to face an increasingly stiff test to their resilience.

(more…)
Continue Reading

Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

Published

on

The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,159 other subscribers

Wise

Recent