Tassapon again denies share sale to King Power

Tassapon again denies share sale to King Power

Asia Aviation Plc (AAV) boss Tassapon Bijleveld on Friday issued a second denial in two weeks that he and his spouse sold their majority stakes to duty-free operator King Power.

"There was no deal whatsoever," an AAV spokesperson quoted Mr Tassapon, referring to a May 5 Thai press report.

This followed a story on April 25 by Khaohoon newspaper that suggested Mr Tassapon and wife Sirithorn sold 23% of their AAV share to King Power for 3 billion baht.

The SET record shows Mr Tassapon and Mrs Sirithorn respectively own 13% and 12% in AAV, which in turn owns 55% of Thai AirAsia, Thailand's largest low-cost carrier. Their only daughter Pataree is the single largest shareholder in AAV with a 19% holding.

Press reports said King Power was keen to gain ownership of AAV to build on its travel-related empire. Its portfolio includes new English Premier League champions Leicester City.

The AAV spokesman would neither confirm nor deny that discussions about an AAV share sale to King Power had taken place.

AAV plans to submit a letter of clarification to the SET on Monday denying a deal with King Power.

Last year AAV posted a record net profit of 1.08 billion baht, up 490% from 183 million in 2014. TAA posted record net earnings of 1.99 billion baht, up 494%.

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