<article>Charoen Pokphand Group (CP), Thailand’s largest agri conglomerate, is in talks to acquire Land and Houses Bank (LHBANK), a senior bank official said.</article>

Charoen Pokphand Group (CP), Thailand’s largest agri conglomerate, is in talks to acquire Land and Houses Bank (LHBANK), a senior bank official said.
The information was disclosed by the Bank of Thailand’s governor Prasarn Trairatvorakul, but he declined to provide additional details on the prospective deal.
However, the details of this prospective deal have not been disclosed.
If the deal goes through, it would be the CP Group’s first foray into the banking sector. It is expected to support and strengthen the conglomerate&#8217;s real estate business.
The news of the impending partnership has  pushed up the LHBANK’s stock price by 6.59% from 1.82 baht ($0.056) to 1.94 baht ($0.06) this morning, with total sale value touching 154.73 million baht.
In 2011, the LHBANK, which had retail banking operations, was upgraded to a commercial bank. At that time, LHBANK chairman Rutt Phanijphand had announced that they (the bank) were not seeking any strategic alliance till 2014 and were instead, targeting growth through organic means. The future strategic partner would be required to reinforce the bank’s weak fee income, he had added.

CP group to acquire LH Bank

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CP group to acquire LH Bank

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