February 8, 2008
Bangkok - Thai Beverage Plc (ThaiBev) denied it negotiated to buy Shin Corp shares from Temasek Holdings of Singapore.
Rumor has it that Temasek Holdings of Singapore plans to sell some of its Shin Corp shares to ThaiBev’s founder and chairman Mr. Charoen Sirivadhanabhakdi.
A source at ThaiBev said Mr. Charoen was not keen to buy Shin Corp shares, confirming the deal was impossible.
However, it is said the deal will become clear after the ThaiBev Group completes conducting a due diligence into Carabao Tawandaeng Co Ltd.
Temasek Group is said to join ThaiBev Group’s boss to set up TCC Capital Land Co at the initial cost of two billion baht to penetrate the property market.
Temasek Group holds 40% stake in TCC Capital Land Co through Capital Land Co.
SHIN rose 2.25 baht to close at 27.75 baht, a 8.82% hike.
