Big C confirms shares sold to TCC Group

Big C confirms shares sold to TCC Group

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.    

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. 

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