Central Pattana Plc’s subsidiary CPN Pattaya Co Ltd has signed an agreement to purchase 100 per cent of shares in Grand Canal Land Plc (Gland) for Bt3.1 per share or worth Bt20.14 billion, according to the company’s report to the Stock Exchange of Thailand (SET) on Wednesday
Central Pattana Plc holds a 100-per-cent stake in CPN Pattaya Co Ltd.
The SET report said the company’s board of directors had approved the acquisition of Gland by CPN Pattaya.
The investors selling Gland shares are Charoenkrit Enterprise Co Ltd, Belle Park Residence Co Ltd, Jatersiri Boondicharern, Romani Boondicharern and Jatemongkol Boondicharern.
CPN has not yet reached a conclusion on delisting Gland from SET listing.