Thai realty firm Univentures to buy 35% stake in local co for $11.26m

Thai holding company Univentures Pcl is acquiring 35 per cent stake in construction management company Stonehenge Inter Co Ltd from Hong Kong-based Trend Wealth Enterprise Ltd for 400 million baht ($11.26 million).

The deal includes Trend Wealth Enterprise’s entire 350,000 shares which are being sold ten times higher than the par value of 100 baht each.

The transaction is expected to close by the end of July or August this year, Univentures’ president Warawat Srisa-an said, in a statement.

This acquisition is expected to enhance Univentures’ advantage in property development business given Stonehenge Inter’s expertise in construction management and consulting services.

Founded in 2004, Stonehenge Inter has executed engineering and consulting services for over 200 projects in both private and government sectors. It has 140 employees. It is engaged in building projects covering office space, dwelling units and factories.

Univentures reported a consolidated net profit of 114.33 million baht in the first quarter, up from 105.29 million baht in the same period last year.

Majority owned by tycoon Sirivadhanabhakdi family, Univentures hopes to be one of Thailand’s top five property developers by 2020. It holds 55.73 per cent in the listed Golden Land Pcl and follows an active acquisition strategy of local property developers and related firms.

Together with Golden Land, it also launched Golden Ventures Leasehold REIT in March, raising around 10 billion baht in the IPO.

Univentures was founded to operate the manufacturing and distribution of powdered zinc oxide business before it diversified into property development and energy.

Also read:

Thailand: Univentures, Golden Land set up REIT to mop up $283m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.