Berli Jucker Public Company Limited (SET:BJC) made an offer to acquire 49.8% stake in White Group Public Company Limited (SET:WG) for THB 1.6 billion on November 23, 2018. Berli Jucker Public Company Limited made the offer to acquire 8.9 million shares at THB 180 per share. In a related transaction, Berli Jucker Public Company Limited agreed to acquire 50.24% stake in White Group Public Company Limited through stock exchange from Osotspa Public Company Limited (SET:OSP), M.D.X. Assets Co., Ltd. and other shareholders for THB 1.61 billion on November 23, 2018.

Berli Jucker Public Company Limited will fund the transaction from the credit facilities granted by the financial institution. Following completion of the offer, Board of Directors of White Group Public Company Limited will comprise of Aswin Techajareonvikul as Chairman of Board, Sutthichai Sungkamanee as Director, Independent Director and Chairman of the Audit Committee, Pimpana Peetathawatchai and Salin Pinkayan each as Director, Independent Director and member Audit Committee, Somchai Chaisuparakul as President and Director, Nutt-hathai Thanachaihirunsir as Director while Kamonwan Sivaraksa as Director and Company Secretary of White Group Public Company Limited. Tender offer period will start on December 4, 2018 and will expire on January 11, 2019.

As of December 26, 2018, Board of Directors of White Group Public Company Limited unanimously recommended shareholders to accept the offer. Phatra Securities Public Company Limited acted as tender offer agent. Weerawong, Chinnavat & Peangpanor Ltd. appointed as legal advisor to White Group Public Company Limited.

Capital Advantage Company Limited acted as financial advisor to White Group Public Company Limited and is of opinion that the offer is reasonable and fair.