Saha Group dumps shares in Saha Rattana Nakorn
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Saha Pathanapibul Plc's board of directors yesterday approved the disposal of its 15 per cent stake in financially-ailing Saha Rattana Nakorn Co Ltd.
The company did not explain why it sold the 270,000 shares which carry Bt100 in par value. Saha Rattana Nakorn operates an industrial estate in Ayutthaya which has been severely hit by the floods. Saha Rattana Nakorn is now under debt restructuring.
Meanwhile, Saha Pathanapibul's board at the Dec 15 meeting approved the Bt15 million investment in Tsuruha (Thailand) Co Ltd. According to a statement to the Stock Exchange of Thailand, the transaction for the 15 per cent stake in Tsuruha (Thailand) would be completed within this month.
Following the transaction, Tsuruha (Thailand) will be owned equally 49 per cent by Saha Group and Tsuruha Holdings Inc.
Saha Pathapibul said that it expected dividends from the new investment.
