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Frasers Property JV sets date for launch of Ticon Industrial buyout offer

Singapore-listed Frasers Property Ltd. said its Frasers Assets Co. Ltd. joint venture will launch a 17.90-baht-per-share tender offer for all of the shares it does not already own in Ticon Industrial Connection Pcl, April 4.

Frasers Assets scheduled the launch after the April 2 expected completion of its acquisition of Rojana Industrial Park Pcl's shares in the targeted industrial and logistics company.

The stake buy, with a consideration equal to the offer price, will increase Frasers Property's shareholding in Ticon Industrial to 67.05% from 40.95%, triggering the tender offer by the Singaporean to take over the Thai developer under a 20-billion-baht buyout plan.

As of March 26, US$1 was equivalent to 31.14 baht.