<article>Thailand’s leading agricultural conglomerate Charoen Phokphand (<a style="color: #000080" href="http://www.dealstreetasia.com/?s=CP">CP</a>) is finally set to close the deal that will see it acquire 51 per cent stake in the Land and House Bank (LH Bank).</article>

Thailand’s leading agricultural conglomerate Charoen Phokphand (<a style="color: #000080" href="http://www.dealstreetasia.com/?s=CP">CP</a>) is finally set to close the deal that will see it acquire 51 per cent stake in the Land and House Bank (LH Bank).
Both parties have been negotiating this deal since last year.
Quoting a source from the bank, a report in <a href="http://www.kaohoon.com/" target="_blank">Khao Hoon</a> news, said that the deal is finally, expected to close next month. Currently, both the companies are finalising the deal price, which is expected to be 2-2.5 times higher than the LH Bank&#8217;s book value of  1.22 baht per share, the report added.
After the acquisition is completed, CP is expected to run the bank and use its finance in  the group&#8217;s wholesale and retail chain business, such as Makro and CP All.
Also read: <a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/lh-bank-offers-big-stake-to-future-partner-1430/" rel="bookmark">LH Bank offers big stake to future partner</a> 
Meanwhile, LH Bank is expected to expand its electronic banking service through the CP ALL chain, which operates more than 8,000 branches of 7/11 convenient stores.
Due to this news, the LH Bank stock quote was up 6.06 per cent to 2.10 baht apiece at 10.02 am (local time), with the trading value of 193.52 million baht.
The source from Siam Commercial Bank told DealStreetAsia that this deal between CP and LHBANK was over.
&#8220;As I know, CP finally decides not to buy LH BANK. However, we have to wait and see who will be the next potential one to become LH Bank&#8217;s partner,&#8221; he said.
In the afternoon, LH Bank informed the Stock Exchange that it did not know about the deal referred to the news.
“Referring to the press regarding the purchasing ordinary shares of LH Financial Group Public Company Limited in March 2015. Regarding to the mentioned press, we would like to inform that the company do not acknowledge it,” LH Bank’s president Sasitorn Phongsathorn said in its statement.
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<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/cp-group-to-acquire-lh-bank-578/" rel="bookmark">CP group to acquire LH Bank</a>

Thailand’s agricultural conglomerate Charoen Phokphand (CP) is finally set to close the deal that will see it acquire 51 per cent stake in the LH Bank.

CP to close the deal with LH Bank in March

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CP to close the deal with LH Bank in March

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