By Chalida Ekvitthayavechnukul
Vatic Ventures acquired the rights of Red Branch Investments Ltd, a Hong Kong-incorporated company, to purchase the shares from former shareholders for 8 million baht ($220,000).
This is 50% higher than its initial target of $10 million.
The joint venture between Loxbit and Killian Court provides K2 Venture the opportunity to leverage on the existing network and track records of the parent companies to tap into the high growth startup investment opportunities in Thailand and ASEAN region.
Lalamove will use the funding to continue its aggressive expansion in Asia where it plans to launch in additional 60 cities this year.
Goldman Sachs Group Inc. and Apollo Asia Sprint Holding Co. will invest 8.4 billion baht ($235 million) in a real estate development that includes Thailand’s tallest skyscraper. The proposed investment — a $216 million equity injection and $18.8 million of financing — is expected to be completed within February 2017… Read more »
“This partnership is a ground-breaking move for Centara as we continue to extend our upscale resort portfolio internationally. This is Centara’s first hotel in Dubai, and the UAE, and represents our arrival in a key gateway city in the Middle East,” said Centara’s chairman Suthikiati Chirathivat.
Tencent has strengthened its presence in the Thai market through the formation of a joint venture (JV) with Thailand’s Ookbee in the form of Ookbee U, which is intended to be the foundation of a digital media content ecosystem. Ookbee is a digital entertainment platform startup that started as an online book and magazine… Read more »
Thailand’s Charoen Pokphand Foods Plc (CP Foods) has set foot in Poland acquiring a 33 per cent stake in family run poultry firm SuperDrob Capital Group for $51.5 million (Euro 49.50 million), a move that will see CP Foods expand to SuperDrop’s markets in Poland and EU.
Thai food major CP Foods has completed the acquisition of US-based Bellisio Foods Inc in a $1 billion deal that private equity firm Centre Partners Management LLC exited all of the outstanding interests in Bellisio.
Standard Chartered Plc plans to transfer its Thai retail banking business to Thailand’s Tisco Financial Group Pcl next year, exiting an operation that the U.K. lender said lacked the scale to generate adequate returns. The net asset value is about 5.5 billion baht ($153 million), according to a stock exchange… Read more »