Noble Development Public Company Limited (SET: NOBLE) announced that on April 4, 2022, the company has executed the joint venture agreement with U City Public Company Limited (SET: U) by acquiring the ordinary shares and promissory note issued by Khu Khot Station Alliance Company Limited at 50 percent from U City Public Company Limited, with an investment value of THB596 million.
NOBLE acquired assets include the ordinary shares in the amount of 500,000 shares, or equivalent to 50 percent of the registered capital and the face value of promissory note of THB584,844,514.
Khu Khot Station Alliance Company Limited engages in the business of real estate development and owns land located near community and shopping malls with full facilities and services, close to expressways and nearby future sky trains, thus being appropriate for development of real estate. The investment in Khu Khot Station Alliance Company Limited will increase potential and opportunity for NOBLE to successfully develop real estate projects and business competition capacity to the company.
