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Australand bet cements risk for Thai tycoon
Add BT as a preferred sourcePublished Thu, Jun 5, 2014 · 10:00 PM
[HONG KONG] A Thai tycoon's US$2.4 billion bet on Australian property has revived concerns that he is overextending himself.
Charoen Sirivadhanabhakdi took control of conglomerate Fraser & Neave last year in a US$11 billion deal. Now he is seeking to increase his exposure down under with an offer to buy Australand.
By diversifying away from Singapore, he risks piling more debt on an empire still digesting its last big acquisition.
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