Triple I Logistics Public Company Limited (SET: III) announced its restructuring plans for several acquisitions of assets of subsidiaries and connected transactions to strengthen Asia Network International Company Limited (ANI) before the listing in the Thai stock market.
III announced earlier this morning that at the meeting of the board of directors, the company passed resolutions to approve the matters relating to the business restructuring of general sales agents for airlines and acquisitions of related companies in order to prepare an optimal structure for Asia Network International Company Limited (ANI). ANI will invest an additional 80 percent in Asia GSA (M) SDN. BHD., increasing its shareholding proportion from 20 percent to 100 percent. The company will sell all its shares in the proportion of 99.99 percent in Triple I Asia Cargo Company Limited (TAC) to ANI.
In conclusion, ANI Group, a subsidiary of the Company, will acquire shares in Asia GSA (M) in the proportion of 80 percent, with the total value being SGD 212.3 million or equivalent to Baht 5,520 million, from the existing shareholders of Asia GSA (M).
ANI will acquire shares in Superior’s from the existing shareholders of Asia GSA (M) who sells share to Superior and will receive 18,138 shares in Superior, equaling the value of consideration of approximately Baht 725 million, which will be paid by 2,458,918 shares in ANI, at the price of Baht 305 per share.
III will sell all of its shares in TAC to ANI, with the total value not exceeding Baht 168 million, and will receive 550,798 shares in ANI as consideration, at the price of Baht 305 per share.
