Thailand’s Central Pattana To Take Over Shopping Mall Rival Siam Future For As Much As $784 Million

[webfact]

People take photographs outside the CentralWorld shopping mall, operated by Central Pattana in Bangkok

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Jonathan Burgos

Contributor

 

Central Pattana is taking over shopping mall rival Siam Future Development in a deal that could cost as much as 25.6 billion baht ($784 million) as the group cements its position as Thailand’s largest shopping mall developer.

 

In a deal announced on Wednesday, Central Pattana said its unit Central World has agreed to purchase an initial 52.2% stake in Siam Future from Major Cineplex Group and other shareholders at 13.3 billion baht. The transaction is expected to be completed by August 30, the company said in its statement to the Thai bourse.

 

Following the completion of the deal, Central World will make a tender offer for the rest of the company at 12 baht a share, bringing the group’s total investment to 25.6 billion baht.

 

Full story: https://www.forbes.com/sites/jonathanburgos/2021/08/27/thailands-central-pattana-to-take-over-shopping-mall-rival-siam-future-for-as-much-as-784-million/

 

-- Forbes 2021-08-30

[Scrotobike]

Hot on the heals of the Tesco fiasco, another monopoly in creation?

 

[CrunchWrapSupreme]

Heh, 12 baht a share. Companies are hurting. There's blood in the water. The vultures are circling. It's fire sale time. Gee, why lift the restrictions, when there's more deals to be had?

[khunPer]

2 hours ago, Scrotobike said:

Hot on the heals of the Tesco fiasco, another monopoly in creation?

 

As long as those two monopolies compete, it's actually good, better than smaller vendors that don't have the size, and thereby power, to compete with a major player on the market...????

[Scrotobike]

1 hour ago, khunPer said:

As long as those two monopolies compete, it's actually good, better than smaller vendors that don't have the size, and thereby power, to compete with a major player on the market...????

Different areas of operation, one a provider of space another (like here in my Ampur) the just about the SOLE provider of food - with 7/11 and Lotusssss. Even the cooked food vendors have to shop there.

[khunPer]

2 hours ago, Scrotobike said:

Different areas of operation, one a provider of space another (like here in my Ampur) the just about the SOLE provider of food - with 7/11 and Lotusssss. Even the cooked food vendors have to shop there.

Central Group is the owner of Family Mart, BigC, and Tops, so plenty of competition...????

[Sydebolle]

Retail has never been sooooooooooooo low, shops and malls being closed and they go shopping for billions and billions. 

Like Lotus's - is it just me wondering where all that money comes from and why nobody halts the complete exploitation of misuse of monopolistic positioning by the seriously usually rich?