The Siam Cement Public Company Limited (SET: SCC) announced that Global House International Company Limited (GBI), a joint venture company with 50% stake held by SCC’s subsidiary and 50% held by Siam Global House Public Company Limited (SET: GLOBAL), has completed the investment of a 9.25% stake in PT Caturkarda Depo Bangunan Tbk (or CKDB). This was done via the acquisition of 628,146,900 common shares, at 482 Indonesian Rupiah/share for 303 billion Indonesian Rupiah, equaling approximately 713 million Thai Baht. GBI will hold the stake 22% after this transaction.
CKDB is a leading Indonesian retailer of building material, decorative, hardware, construction, renovation, and decorative house/garden products under the brand Depo Bangunan. This investment will support SCG’s strategic expansion of retail business in ASEAN.
