Berli Jucker Plc (BJC) has completed its acquisition of shares in Big C Supercenter Plc, which it bought from Geant International BV.
BJC told the Stock Exchange of Thailand that BJC Supercenter Co, which is its fully-owned subsidiary, has directly acquired a 32.1% stake in Big C from Geant.
Sampunsamer Co, another fully-owned subsidiary, indirectly acquired shares in Big C by acquiring all of the ordinary shares in Saowanee Holdings Co from Geant International. Saowanee Holdings owns a 26.45% stake in Big C.
BJC now holds 483,077,600 shares or 58.55% of Big C through its two subsidiaries.
BJC C-Distribution Co, an indirect subsidiary of BJC, also acquired 2,700,000 shares or 60% in C-Distribution Asia Pte from Cdiscount International BV, a company in the same group as Geant International. The share sale was €21.5 million (856 million baht).
The acquisition of shares in Big C through the subsidiaries, and the acquisition of shares in C-Distribution Asia, were in accordance with a resolution of the company's extraordinary shareholders' meeting on March 21.
This resulted in Big C, C-Distribution Asia and C-Distribution (Thailand) Co becoming BJC subsidiaries.
In entering the Big C share acquisition and transaction, BJC established additional subsidiaries and acquired shares in eight other existing companies from unrelated third parties.
The new subsidiaries were established to facilitate the Big C acquisition, which requires investment restructuring, credit facilities and acquisition of Big C shares and related entities.