SHV sells interest in Siam Makro
Family-owned trading company SHV Holding on Tuesday said it is selling its 64% interest in Thai retailer Siam Makro.
The company has accepted an offer of 787 baht per share from retailer CP All, owned by Thai billionaire Dhanin Chearavanont. The offer values Siam Makro at $6.6bn.
The deal is Thailand’s biggest ever takover and the largest in the region this year.
Dhanin also plans to buy out the rest of the shareholders.
Siam Makro has 58 stores in Thailand and provides catering supplies to hotels and restaurants. In 2012 the company booked profit of 3.56bn baht, an increase of 36%.
SHV Holding, based in Utrecht, has interests in lpg distribution, industrial services and transport. The family company turnover is €20bn.
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