Thai Billionaire Sarath to Merge Gulf Energy and Intouch Telecom
Thai billionaire Sarath Ratanavadi plans to merge Gulf Energy Development and Intouch Holdings. This move consolidates his energy and telecom businesses and aims at creating a leading entity with a combined market value of twenty-point-five billion dollars. The restructuring is expected to complete next year, pending regulatory approval.
Thai billionaire Sarath Ratanavadi has announced plans to merge his energy company, Gulf Energy Development Pcl, with his telecom unit, Intouch Holdings Pcl.
Existing Gulf Energy shareholders will receive 1.02974 shares of the merged entity, while Intouch shareholders will get 1.69335 shares for each stock held.
The combined market value of the two companies stands at twenty-point-five billion dollars, and Gulf currently owns a forty-seven-point-four percent stake in Intouch.
The merger will enable the group to streamline its shareholding structure and optimize future growth opportunities in energy, infrastructure, and digital landscapes.
The restructuring will also see Gulf Energy and its allies, Intouch and Singtel Strategic Investments, make a tender offer for thirty-six-point-twenty-five percent of Advanced Info Service at 216.30 baht per share.
Singtel supports the amalgamation and will gain about a nine percent stake in the new entity.
Furthermore, Gulf Energy, Intouch, and Sarath will offer to buy fifty-eight-point-nine percent of satellite operator Thaicom Pcl at eleven baht per share.
The restructuring is expected to conclude in the second quarter of next year, pending regulatory approval.
Bualuang Securities and UBS AG are advising Gulf Energy on the transaction.
Existing Gulf Energy shareholders will receive 1.02974 shares of the merged entity, while Intouch shareholders will get 1.69335 shares for each stock held.
The combined market value of the two companies stands at twenty-point-five billion dollars, and Gulf currently owns a forty-seven-point-four percent stake in Intouch.
The merger will enable the group to streamline its shareholding structure and optimize future growth opportunities in energy, infrastructure, and digital landscapes.
The restructuring will also see Gulf Energy and its allies, Intouch and Singtel Strategic Investments, make a tender offer for thirty-six-point-twenty-five percent of Advanced Info Service at 216.30 baht per share.
Singtel supports the amalgamation and will gain about a nine percent stake in the new entity.
Furthermore, Gulf Energy, Intouch, and Sarath will offer to buy fifty-eight-point-nine percent of satellite operator Thaicom Pcl at eleven baht per share.
The restructuring is expected to conclude in the second quarter of next year, pending regulatory approval.
Bualuang Securities and UBS AG are advising Gulf Energy on the transaction.
