Central Retail Corporation Public Company Limited completed the acquisition of additional 44.6% stake in Robinson Public Company Limited from a group of sellers for THB 32.9 billion.
February 10, 2020
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Central Retail Corporation Public Company Limited made an offer to acquire an additional 46.18% stake in Robinson Public Company Limited from a group of sellers for THB 34.1 billion on December 26, 2019. The consideration consists of an offer per share price of THB 66.5 per share for 513 million shares. As of January 17, 2020, Central Retail Corporation Public Company Limited will issue shares as consideration and there will be no cash alternative. The offer period will start from December 27, 2019. Shares consideration will be calculated by dividing the offer price by the final IPO price. The ROBINS's shareholders who accept the exchange offer (The Offerees) will receive the newly issued shares of CRC (The Offeror) and there will be no cash alternative. Therefore, the Swap Ratio is within a range of 1 ROBINS's ordinary share per 1.55 -1.66 newly issued shares of CRC. However, the Swap Ratio will be known after the end of the tender offer period when there is a final IPO price. The final swap ratio is equivalent to one Robinson Public Company Limited's ordinary share per approximately 1.58 shares of the Shares Consideration.
As of January 15, 2020, transaction is subject to governmental and regulatory approvals. Discover Management Co., Ltd., which acted as an independent financial advisor is of the view that transaction is fair and reasonable and shareholders should accept the offer. The tender offer will close on February 3, 2020. Bualuang Securities Public Company Limited and Phatra Securities Public Company Limited acted as tender offer agents in the transaction. Discover Management Co., Ltd. acted as independent financial advisor to Robinson Public Company Limited.
Central Retail Corporation Public Company Limited completed the acquisition of additional 44.6% stake in Robinson Public Company Limited from a group of sellers for THB 32.9 billion on February 11, 2020. Central Retail Corporation Public Company Limited has determined final swap ratio to be 1.5833 shares. Central Retail Corporation Public Company Limited has acquired 495 million shares of Robinson and now holds 803.1 million shares amounting for 72.31% stake.
Central Retail Corporation Public Company Limited (Central Retail) is a Thailand-based company, which is a multi-format, multi-category retailer. Central Retail's business is organized into three operating segments: Hardline, Food Products and Fashion. Its Hardline segment which consists of home decoration, home improvement, electronic products, stationery, office supplies, and e-Book under retail brands, such as Thai Watsadu, BnB home, Power Buy, OfficeMate, B2S, and Nguyen Kim Vietnam. Its Food Products segment provides a range of consumer products and products which found in convenience stores under various retail brands, such as Tops, FamilyMart, Big C / GO!, and Tops Vietnam, go! Vietnam, and Lan Chi Mart Vietnam. The Companyâs Fashion segment offers apparel and accessories under retail brands, such as Central Department Store, Robinson Department Store, Rinascente Department Store, Supersports, and Brandshop.
Central Retail Corporation Public Company Limited completed the acquisition of additional 44.6% stake in Robinson Public Company Limited from a group of sellers for THB 32.9 billion.
CENTRAL RETAIL CORPORATION 
