Thailand: Sermsuk’s major shareholder sells its stake to So Water for $277m

Thai Beverage Logistics has sold its 64.66-per-cent stake in soft drink maker Sermsuk Pcl to So Water Co Ltd for 9.97 billion baht ($277 million), according to Sermsuk’s statement to the Stock Exchange of Thailand (SET).

The share divestment is a part of the internal shareholding restructuring process of Thai Beverage Plc, which wholly owns Thai Beverage Logistics and So Water direct and indirectly, respectively.

Thai Beverage Logistics has divested at the selling price of 58 baht per share, higher than the closing price at 51 baht per share today.

Founded by beverage tycoon Charoen Sirivadanabhakdi, Thai Beverage has become one of the major beverage conglomerates in Thailand, a direct competitor with Singha Corp.

Sermsuk, which was established in 1952, had been an exclusive distributor of Pepsi brands until it terminated its contracts with the United States beverage giant and was taken over by Thai Beverage in 2011.

Thai Beverage, whose brands include Chang beer, Sangsom rum and the Oishi chain of Japanese restaurants, acquired Sermsuk at that time with a view to expand the non-alcoholic product portfolio and broaden its logistic network to traditional trade.

The second largest shareholder in Sermsuk is SS National Logistics, which holds 21.14 per cent, followed by DBS Bank sharing 4.70 per cent.

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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.

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

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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.