The newly-listed developer Ananda Development Plc has spent 1 billion baht buying back the shares it does not already own in a subsidiary from TMW Ananda GmbH, a property fund managed by Pramerica Real Estate Investors.
The company reported yesterday the acquisition of a 48.3% stake in Ananda Development One (ADO) from its joint venture partner was completed as outlined in its prospectus on Nov 27, 2012. It now owns 100% in ADO.
Chanond Ruangkritya, CEO and founder of Ananda, said ADO's portfolio included low-rise housing units near Suvarnabhumi airport.
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