Thailand’s Berli Jucker makes open offer for remaining shares of BIG C

Image from Big C website.

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.

Bualuang Securities Pcl, Kasikorn Securities Pcl, Krung Thai Bank Pcl, KT ZMICO Securities Co and Phatra Securities Pcl will be preparers for the new tender offer.

Also read:

Thailand’s Berli Jucker seeks $6.2b loan for Big C acquisition; shares drop

Thai Berli taps overseas banks to raise $6.2b for Big C deal; on track to meet financing deadline

Thailand’s TCC secures $3.6b loan to fund Big C acquisition

Thailand’s Central Group dithers on joining Big C Vietnam unit bidding

 

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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.