Singha Estate Public Company Limited (SET:S) completed the acquisition of Park Industry Company Limited from Boon Rawd Brewery Co., Ltd., Santi Bhirombhakdi, Chutinant Bhirombhakdi and Chayanin Debhakam.
September 05, 2021
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Singha Estate Public Company Limited (SET:S) agreed to acquire Park Industry Company Limited from Boon Rawd Brewery Co., Ltd., Santi Bhirombhakdi, Chutinant Bhirombhakdi and Chayanin Debhakam for THB 1.2 billion on March 8, 2021. As a part of transaction, Singha Estate Public Company Limited will acquire 0.5 million shares of Park Industry Company. Under the terms of transaction, consideration will be paid as milestone payment. Currently, PIC has existing shareholder’s loan from Boon Rawd with an outstanding amount of THB 640 million and will be repaid in installments. In a related transaction, Singha Estate agreed to acquire 30% stake in Angthong Power Company Limited from Whitefords United Pte. Ltd. for approximately THB 560 million. Source of fund for the transaction will comprises of loan from financial institution and the Singha Estate’s internal cashflow. Park Industry Company reported total assets of approximately THB 1170 million, total liabilities of approximately THB 680 million, total revenue of THB 11.6 million, net profit of THB 3.8 million and total shareholders' equity of THB 500 million for the year ended December 31, 2020. The transaction is subject to approval from Shareholders and Park Industry Company obtaining license for land allocation and is expected to be completed within quarter 3 of 2021. Park Industry Company shall receive not less than 3 out of 4 of the total votes from participating shareholders who are entitled to vote, excluding interested shareholders. Park Industry Company board prior to the acquisition consists of 3 members namely, Santi Bhirombhakdi, Chutinant Bhirombhakdi and Chayanin Debhakam. Singha Estate Public Company Limited will appoint representatives with eligible attributes as directors per percent shareholding post acquisition, within quarter 3 of 2021. Avantgarde Capital Company Limited acted as financial advisor to Singha Estate.
Singha Estate Public Company Limited (SET:S) completed the acquisition of Park Industry Company Limited from Boon Rawd Brewery Co., Ltd., Santi Bhirombhakdi, Chutinant Bhirombhakdi and Chayanin Debhakam on September 6, 2021.
Singha Estate Public Company Limited is a Thailand-based property developer. The principal business operations of the Company and its subsidiaries are development and investment of real estate for rental and sale, in hospitality business and in related businesses in Thailand and overseas. Its segments include House and Condominium, Hospitality, Investment Property, and Others. Its commercial properties include shopping centers and office buildings for rent. Its development of residential business, both high rise and low-rise projects, is diverse in forms, namely single detached houses, townhomes, home offices and condominiums. The Companyâs hospitality business is operated by S Hotels and Resources Public Company Limited (SHR), the Companyâs subsidiary. Its properties include Singha Complex, Suntowers, SENTRE Pattanakarn, THE ESSE at SINGHA COMPLEX, and The Extro Phayathai-Rangnam, among others. Its subsidiaries include S Estate Commercials Inter Co., Ltd., S.IF. Co., Ltd., and others.
Singha Estate Public Company Limited (SET: S) completed the acquisition of Park Industry Company Limited from Boon Rawd Brewery Co., Ltd., Santi Bhirombhakdi, Chutinant Bhirombhakdi and Chayanin Debhakam.
SINGHA ESTATE 
