Major Cineplex Group Public Company Ltd. (SET:MAJOR) announced that it will make a public tender offer to acquire an additional 24.1% stake in Siam Future Development Public Company Ltd. (SET:SF) for THB 2.7 billion on August 11, 2016. Major Cineplex offered to acquire not more than 428.35 million shares of Siam Future Development PCL for THB 6.2 per share. Major Cineplex will apply a pro-rata calculation if the number of shares tendered by shareholders is more than 24.11%. The consideration will be financed from the Major Cineplex Group's working capital and credit facilities from commercial banks. The transaction is subject to approval from shareholders of Siam Future Development PCL and the Securities and Exchange Commission. The Board of Directors of Siam Future Development will meet on August 15, 2016 to consider the deal. As of August 15, 2016, Siam Future Development's Board approved the deal. On October 3, 2016, the transaction was approved by shareholders of Siam Future Development Public Company Ltd. As on January 4, 2017, TMB Bank Public Company Limited provide THB 810 million and ICBC Thai Public Company Limited THB 2,600 million for the transaction. The transaction is expected to be completed within the fourth quarter of 2016. Bualuang Securities Public Company Limited acted as financial advisor for Major Cineplex Group. OptAsia Capital Co., Ltd. acted as independent financial advisor for Cineplex Group. The deal is expected to close on January 26, 2017.

As of December 20, 2016 tender offer document has been submitted. Tender offer will commence from December 21, 2016.

Major Cineplex Group Public Company Ltd. (SET:MAJOR) completed acquisition of additional 0.30% stake in Siam Future Development Public Company Ltd. (SET:SF) on January 26, 2017.