Banyan Tree to bid for rest of Laguna Resorts & Hotels
Total purchase price works out to approximately 2.28 billion baht; there are no plans to delist the Thai-listed unit
Singapore
BANYAN Tree Holdings Limited said on Monday that it intends to make an offer for the remaining shares it does not already own in its subsidiary Laguna Resorts & Hotels Public Company Limited, but has no plans to delist the Thai-listed unit.
The acquisition will be by way of a voluntary tender offer for 57.08 million shares in Laguna Resorts & Hotels at 40 Thai baht apiece by Banyan Tree and its subsidiary Banyan Tree Resorts & Spas (Thailand) Company Limited.
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