The retail arm of Charoen Pokphand Group, CP All Plc which operates 7-Eleven convenience stores, will put 188.88 billion baht (US$6.6 billion) to buy Makro cash-and-carry stores in Thailand.
According to Thomson Reuters, CP All agreed to acquire a 64.346% interest in Bangkok-based Siam Makro Plc for 787 baht a share ($27.451), or a value of $4.239 billion via tender offer from Netherlands-based SHV Holdings NV. The company also agreed to acquire the remaining 35.654% stake which it does not already own in Siam Makro Plc for US$2.349 billion.
"All in all, the proposed acquisition, with a total value worth $6.6 billion, is the largest announced M&A transaction globally in the retail sector so far this year. It is also the largest M&A transaction involving Asia Pacific to date,'' said Thomson Reuters in its released analysis.
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