Connect with us

Top Stories

Property developer Tanayong acquires BTS for 40 billion baht

Avatar

Published

on

The SET-listed property developer Tanayong Plc will pay 40 billion baht to raise its shareholding in Bangkok Mass Transit System BTSC, the operator of the capitals elevated train system, to 94.6% from 0.38% at present.Under the plan, Tanayong will acquire about 15 billion of the total paid-up shares of BTSC, which the developer founded in 1992.

The shares will be bought from Siam Rail Transport and Infrastructure Ltd 52.7%, Siam Capital Developments Hong Kong Ltd 36%, Keen Leader Investment Ltd 3.2% and the rest from Keeree Kanjanapas, chairman of both Tanayong and BTSC.Approximately 20.65 billion baht, or 51.59%, of the total transaction value will be paid in cash.

Property developer Tanayong to but BTS company

Tanayong has already been granted loans worth 22 billion baht to finance the deal.The remaining 19.378 billion baht will be paid in the form of newly issued shares of Tanayong amounting to 28.16 billion shares at the price of 0.69 baht apiece in a share swap with BTSCs existing shareholders, Mr Keeree said.

via Tanayong acquires BTS.

Continue Reading
Advertisement
Comments

Business

Alibaba Initiates $3Bln Partnership with Thai Gov in Support of Thailand 4.0

This is probably the first major milestone for Thailand 4.0 economic plan to upgrade Thai economy : a major commitment of a big private investor

Olivier Languepin

Published

on

The e-commerce giant’s executive chairman, Jack Ma, was in Thailand this week and has become the first big name to join Thailand’s plan to upgrade its economy known as Thailand 4.0. (more…)

Continue Reading

News

Thailand switches to black and white for final farewell to late King

Many businesses across Thailand will come to a halt while others will make necessary adjustments to pay their last respects to the beloved late King Bhumibol Adulyadej.

Boris Sullivan

Published

on

Many businesses across Thailand will come to a halt while others will make necessary adjustments to pay their last respects to the beloved late King Bhumibol Adulyadej. (more…)

Continue Reading

Banking

Bangkok retains Leading Mastercard Travel Destination Title for 2017

Travel and tourism in Asia Pacific is showing no signs of slowing down, with the region dominating visitor arrivals once again, according to the Mastercard Global Destinations Cities Index 2017

Boris Sullivan

Published

on

Asia Pacific is an increasingly popular region for travel, according to the Mastercard Global Destinations Cities Index (GDCI) 2017. (more…)

Continue Reading

Most Read

Upcoming Events

Feb 12

Future Energy Asia

February 12 - February 14
BITEC
Bangkok
Feb 19

13th World Congress on Nursing and Health Care

February 19 @ 9:00 am - February 20 @ 5:00 pm BMT
Phuket
Phuket city
Mar 11

Food science conferences

March 11 @ 8:00 am - March 12 @ 5:00 pm BMT
Mar 11

Food science conferences

March 11 @ 9:00 am - March 12 @ 5:00 pm BMT
Mar 22

41st World Dental Science and Oral Health Congress

March 22 @ 9:30 am - March 23 @ 5:00 pm BMT

Press Release

Subscribe via Email

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

Join 12,076 other subscribers

Trending