Thai Billionaire Sarath Plans $5 4 Billion Buyout of Intouch yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
BANGKOK (Reuters) - Thailand s Gulf Energy Development Pcl is planning a US$5.4 billion buyout of Intouch Holdings which controls the country s biggest mobile operator Advanced Info Service Pcl (AIS) .
Bangkok-based Gulf Energy, which owns 18.9% of Intouch, said in a filing it had offered to buy the rest of the shares for 65 baht per share, 11% higher than its previous close.
If Gulf is able to secure at least 50% of Intouch, it will also offer to buy out AIS, it said in a statement. Intouch owns 40.45% of AIS.
Intouch, it said, had high potential to generate cash flow given AIS growth potential and would generate returns in the form of dividends regularly and continuously over the long term.
By Syndicated Content
By Patpicha Tanakasempipat
BANGKOK (Reuters) - Thailand s Gulf Energy Development Pcl is planning a $5.4 billion buyout of Intouch Holdings which controls the country s biggest mobile operator Advanced Info Service Pcl (AIS).
Bangkok-based Gulf Energy, which owns 18.9% of Intouch, said in a filing it had offered to buy the rest of the shares for 65 baht per share, 11% higher than its previous close.
If Gulf is able to secure at least 50% of Intouch, it will also offer to buy out AIS, it said in a statement. Intouch owns 40.45% of AIS.
Intouch, it said, had high potential to generate cash flow given AIS growth potential and would generate returns in the form of dividends regularly and continuously over the long term.
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BANGKOK Thailand’s Gulf Energy Development Pcl is planning a $5.4 billion buyout of Intouch Holdings which controls Advanced Info Service Pcl (AIS), the country’s top mobile operator.
Bangkok-based Gulf Energy, which owns 18.9% of Intouch, said in a filing it had offered to buy the rest of the shares for 65 baht per share, 11% higher than its close on Friday.
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The $5.4 billion bid if successful would be the second largest M&A deal in Thai history, behind only Tesco’s $10.6 billion sale of its local operations last March, Dealogic data showed.
Thai billionaire Sarath plans US$5 4b buyout of Intouch theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.