Thai lender Siam Commercial Bank takes 26% in US upscale grocer Dean & DeLuca

Thai lender Siam Commercial Bank takes 26% in US upscale grocer Dean & DeLuca

Pedestrians outside a Dean & DeLuca storefront in Bangkok: The grocer's parent company has scaled down the chain's U.S. operations. (Photo by Marimi Kishimoto)

Siam Commercial Bank, one of the largest banks in Thailand and whose largest individual shareholder is King Maha Vajiralongkorn, said Monday it has secured a 26.49% stake in upscale grocer Dean & DeLuca by converting debt held in the U.S.-based company.

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