Sarathâs bid for InTouch draws skeptics
published : 21 Apr 2021 at 16:59
1 Gulf Energy Development chief executive officer Sarath Ratanavadi plans a buyout of Intuoch Holdings Plc, which controls AIS. (Photo: Gulf Energy Development)
Sarath Ratanavadi, Thailandâs second-richest man, is trying to diversify his empire with a bold bet on digital technology that may cost as much as 53 billion baht.
He’ll have to do more to convince skeptics that the math adds up.
While shares of Mr Sarath’s Gulf Energy Development Plc (Gulf) have climbed 7.6% since the company proposed buying control of Thailand’s biggest wireless operator and its parent on Monday, some analysts and investors are worried the cost of added debt won’t be worth the payoff. The acquisitions would combine a group spanning power plants, ports and toll roads with telecom companies that specialisze in digital services.
Billionaire Sarath offers B169bn buyout for Intouch
2
published : 19 Apr 2021 at 11:25
2 Gulf Energy Development chief executive officer Sarath Ratanavadi plans a buyout of Intuoch Holdings Plc, which controls AIS. (Photo: Gulf Energy Development)
Gulf Energy Development Plc, Thailand’s biggest power producer by market value, has made a buyout bid for Intouch Holdings Plc, which controls the nation’s largest mobile phone operator, offering as much as 169 billion baht.
The Bangkok-based company, controlled by billionaire Sarath Ratanavadi, offered to buy 2.6 billion shares, or about 81% of Intouch, that it does not currently own at 65 baht each, it said in an exchange filing. The offer price is 11% higher than Intouch’s close on Friday.
Billionaire Sarath offers B169bn buyout for Intouch
6
published : 19 Apr 2021 at 11:25
6 Gulf Energy Development chief executive officer Sarath Ratanavadi plans a buyout of Intuoch Holdings Plc, which controls AIS. (Photo: Gulf Energy Development)
Gulf Energy Development Plc, Thailand’s biggest power producer by market value, has made a buyout bid for Intouch Holdings Plc, which controls the nation’s largest mobile phone operator, offering as much as 169 billion baht.
The Bangkok-based company, controlled by billionaire Sarath Ratanavadi, offered to buy 2.6 billion shares, or about 81% of Intouch, that it does not currently own at 65 baht each, it said in an exchange filing. The offer price is 11% higher than Intouch’s close on Friday.
Gulf banks on Vietnam investment
published : 15 Jan 2021 at 04:00
Gulf Energy Development Plc, Thailand s top private power producer by capacity, plans to rack up more revenue this year through its investment expansion in Vietnam by acquiring 70.5% of ordinary shares in Global Mind Investment Management Pte (GMIM) in a deal worth US$40 million, or 1.2 billion baht.
The stock purchase from Nech Opportunities Fund VCC is made through Gulf s wholly-owned Kolpos Pte, which was incorporated in Singapore but runs businesses in Vietnam, Gulf said in a letter to the Stock Exchange of Thailand yesterday. We expect the asset transfer and payment to be completed by the end of January, said Gulf executive and chief financial officer Yupapin Wangviwat.