- Thai Beverage announced a share swap deal that would see the group streamline its businesses to become a pure-play regional F&B player. The proposed swap deal would increase Thai Beverage’s stake in its associate F&N, and is expected to be earnings accretive and create operating and cost synergies with Thai Beverage’s NAB segment.
- - Read this at SGinvestors.io -
Exiting property business.
- - Read this at SGinvestors.io -
- The proposed share swap will see IBIL transfer its entire 28.78% share in Frasers Property to TCC, with TCC transferring to IBIL 41.30% of its shares in F&N.
- Upon completion, Thai Beverage would not have any interest in Frasers Property but an increased stake in F&N from the existing 28.31% to 69.61%. TCC would still retain 17.60% of F&N and own 86.89% of Frasers Property.
- We note that TCC is owned by the Sirivadhanabhakdi family which has controlling stakes in the companies involved in the swap deal, which includes Thai Beverage.
Pure-play regional F&B player.
- Read more at SGinvestors.io.
