The Securities and Exchange Commission has waived the tender offer requirement for Chanat & Sons, which recently took a 49.74 per cent stake in listed Dusit Thani (DTC).
Chanat & Sons recently acquired 42.28 million shares, or 49.74 per cent, of DTC's voting shares through the merger of four family units. Under tender-offer regulations, it would be obliged to tender for the remaining shares from DTC shareholders.
The SEC said in a statement that it had granted the waiver as the shareholding change will not lead to a change in DTC's management structure.
The four entities of the Piyaoui family that were merged recently are: Chanin Co Ltd, Piyachan Co Ltd, Sai Puttha Co Ltd and Vasuratana Co Ltd.