Swiss Holderbank buys key stake in Siam City Cement
Article Abstract:
Holderbank Financiere Glaris Ltd. acquired a 24.99% share in Thailand's second-biggest cement maker, Siam City Cement PCL, for $153 million. However, the deal, equivalent to 170 baht ($4.07) per share, does not give Holderbank a controlling stake in the financially-troubled Thai cement firm. The Ratanarak family, which owns over 50% stake in the firm, continues to hold the biggest stake in Siam City. Analysts expect the deal will enable Siam City to proceed with its restructuring plan over its $650 million debt. Holderbank will have five seats on the 13-member Siam board as well as expand its access to lower-priced Asian cement as a result of the deal.
Comment:
Acquires a 24.99% share in Siam City Cement PCL, Thailand
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Total Access revises debt
Article Abstract:
Total Access Communications PCL, the second-biggest mobile-telephone operator in Thailand, has inked with its 50 bank creditors a new debt-restructuring deal that will enable the firm to delay debt payments for bank debts worth $537.7 million. The new debt-restructuring agreement with its bank creditors will require Total Access Communications to pay its debts at higher interest rates. The debt-restructuring agreement will not require the firm to provide its creditors with greater say on management, seats to its board of directors and equity for its debts.
Comment:
Inks w/ 50 bk creditors a new debt-restructuring deal that will enable co to delay debt payments for bk debts worth $537.7 mil
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Thailand aims to let foreigners own approved properties
Article Abstract:
The Thailand government is to create an executive decree to allow foreigners to own properties in the country, a move intended to salvage the real estate market from totally declining. Cabinet member are set to vote on the executive decree, which will not require parliamentary approval since no laws will be altered. The move will be a quick solution to the current property problem in the nation, where up to 24% of Bangkok office space was unoccupied, according to a finding by CB Richard Ellis in Bangkok.
Comment:
Thailand: Government is to create executive decree to allow foreigners own properties in country to salvage real estate industry
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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