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Published on April 1, 2008

In addition to purchasing 196.2 million shares from TGCI's creditor, Siam City Bank, and 256.4 million shares from major stockholders at Bt1.165 and Bt1.45, respectively, Cementhai will tender for the remaining TGCI shares at Bt1.45 apiece, said Siam Cement Group (SCG) president Kan Trakulhoon.

The tender offer will be made after the 452.6 million shares are transferred to Cementhai, scheduled for before May 10.

Cementhai is also committed to buying up to Bt1 billion out of Bt1.2 billion convertible debentures to be issued by TGCI, as part of the latter's debt restructuring.

"As a strategic investor, SCG's investment will help strengthen TGCI's financial status and improve its management efficiency.

"The new investment, which is in line with SCG's core business expansion, will benefit the company by reducing procurement costs, improve product efficiency and product design," SCG said in a statement to media groups.

The Nation