Big C confirms shares sold to TCC Group
published : 8 Feb 2016 at 11:04
writer: Online Reporters
Hypermarket operator Big C confirmed on Monday that its major shareholder, Géant International BV of Casino Group, has entered into a share sale agreement with TCC Corporation Limited, expected to be completed by March 31.
Rumpa Kumhomreun, chief finance officer and vice-president for Accounting and Finance at Big C Supercenter said in a company statement the direct and indirect sales covered 483.08 million shares at 252.88 baht apiece, representing 58.56% of total issued shares. The news was released on Sunday.
The price may be reduced by the dividend amount.
The company said Big C will continue its 2016 strategic priorities, with a 6-7 billion baht budgeted for store expansion and Alcudia renovations.
- Earlier report: Big C stake sold to Thai TCC
In December 2015, Big C set a strategy for expansion covering six hypermarkets, three Big C markets and 75 Mini Big C stores. It expects seven major Alcudia renovations should be completed during 2016, including Lopburi and Bangpli stores where the work started in July 2015.
As of today, Big C operates a total number of 125 large format stores (Big C Supercenter, Extra and Jumbo), 55 Big C markets, 394 Mini Big C and 146 Pure Drugstores.
Big C shares were trading as of 3pm on the Stock Exchange of Thailand at 249 baht, up 22 baht from Friday's close of 227 baht.