Thai retail giant in $8.18b takeover offer
BANGKOK (AP) - Thai convenience store giant CP All is making a US$6.6 billion (S$8.18 billion) offer to buy discount-store operator Siam Makro in Asia's biggest takeover so far this year.
The operator of 7-Eleven stores in Thailand on Tuesday announced an agreement to buy a 64.35 per cent stake in Siam Makro from SHV Nederland.
It will make a general offer for the remaining shares in Makro.
CP All is part of Thai conglomerate Charoen Pokphand Group which is owned by Thailand's richest man Dhanin Chearavanont.