SCG Distribution's deal to complete in 2 months
Siam Global House Plc's shareholders approved SCG Distribution's investment in the company, paving way for both to synergise their business strengths in construction materials and home decoration products retailing.
SCG Distribution will hold 30-33.4 per cent in Siam Global House. In a statement, Witoon Suriyawanakul, CEO of Siam Global House, said SCG Distribution will have to make the partial tender offer and put up an investment for shares sold via a private placement. The process should be completed in less than two months from now.
"Once the investment is complete, the company will commence planning its business co-operation with SCG Distribution. There will be knowledge and experience sharing in order to optimise the most benefit for the company. The next important step therefrom that the company intends is to expedite the company's branch expansion plan as well as enhance the efficiency of the logistics management system," Witoon said.
SCG Distribution is expected to submit tender offer documents on Oct 4.
