CP All takes over Siam Makro

BANGKOK, April 23 (TNA) - CP All Public Company Limited, which operates 7-Eleven convenience stores, has taken over Siam Makro Public Company Limited, the operator of cash-and-carry Makro stores in Thailand. Under the takeover deal, signed on Tuesday, CP All, a subsidiary of Charoen Pokphand (CP), Thailand's largest agro-industrial conglomerate, spends over 121.5 billion baht on buying a 64.53 per cent stake in Siam Makro. CP All announced that its board of directors recently resolved to buy the 64.53 per cent stake in Siam Makro at 787 baht per share, and that the board also resolved to propose the acquisition of the remaining shares in Siam Makro. Meanwhile, the Stock Exchange of Thailand (SET) has temporarily suspended the trade of CP All and Siam Makro shares since Tuesday morning. (TNA)