CP ALL Public Company Limited (SET:CPALL) made an offer to acquire 35.65% stake in Siam Makro Public Company Limited (SET:MAKRO) for THB 67.3 billion on April 22, 2013. CP ALL Public Company Limited will acquire 85.6 million shares of Siam Makro Public Company Limited for THB 787 per share. The transaction will be funded from the cash flows from the operations and credit facilities support from financial institutions. The transaction was approved by the Board of CP ALL ... Public Company Limited. The making of tender offer after the acquisition of shares under the sale and purchase agreement is completed; CP ALL Public Company shall pay the consideration in cash to shareholders of Makro who have accepted the tender offer on the third business day from the date of the end of tender offer period i.e. approximately August 2013. The transaction is subject to acquisition of assets through execution of the sale and purchase agreement in the number of shares held by CP ALL Public Company reaching or crossing a specified trigger point where CP ALL Public is required to make a tender offer. Baker & McKenzie acted as legal advisor to CP ALL Public Company.
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