NMG board nods to 90% stake sale in Nation U Co Ltd to Dr Chirasak
Nation Multimedia Group Plc (NMG)’s board of directors has approved the disposal of its investment in Nation U Co Ltd (NU), a subsidiary of the company holding the licence and operating the Nation University, to Asso Prof Dr Chirasak Chiyachantana.
NMG has a 90 per cent shareholding in Nation U.
The deal offered an approximate price of Bt8.3824 per share, amounting to a total of Bt256.5 million, according to a company report to the Stock Exchange of Thailand yesterday.
The approval followed a sale of shares agreement of NU dated July 31, 2018, with the precedent condition that the company as the seller must receive the approval from its board of directors before selling the said ordinary shares of NU to Chirasak Chiyachantana.
According to the agreement, transactions of the deal will be completed with in the third quarter of this year, the company said.
