Thailand’s listed Berli Jucker Pcl (BJC) is to make a tender offer on March 30 to acquire the remaining 41.45 per cent stake in the second largest hypermarket operator Big C Supercenter Pcl at the price of 250.26 baht per share.
Total value of this tender offer is about 85.57 billion baht ($2.44 billion), the company reported to the Stock Exchange of Thailand.
“Berli will buy the remaining shares from minority shareholders in a tender offer, to be completed by May,” a source told Reuters.
BJC, the core retail business of TCC Group owned by Thai tycoon Charoen Sirivadhanabhakdi, has won an auction for France’s leading retailer Groupe Casino’s 58.55 per cent stake in the Thai operation of Big C in February.
Through its subsidiaries, it finally secured $6.2 billion short-term financing deal with 15 banks to fund the acquisition and completed the payment and the share transfer on Monday.