Thailand’s Thoresen Thai Agencies PCL TTA.BK said on Friday its wholly owned unit planned to buy a 48.46 percent stake in Unique Mining Services PCL UMSm.BK at a higher-than-market price of 23 baht each.

The company’s wholly owned unit Hermelin Shipping will purchase Unique
Mining shares from its two major shareholders for a combined 73.65
million shares worth about 1.69 billion baht ($50.5 million), it said
in a statement to the stock exchange.

The acquisition, which also includes buying warrants from its
shareholder, onced completed, Hermelin would offer to buy the remaining
shares and warrants from the market, it said.

Hermelin expected to complete the transaction in October, it said.

On Thursday, Unique shares closed at 19.9 baht.

Source: Reuters

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