In today’s briefing:
- Potential Block Deal Targets in Korea for a Preemptive Position Buildup
- Thaicom: Gulf Energy’s Low-Balled MTO Now Open For Acceptances
Potential Block Deal Targets in Korea for a Preemptive Position Buildup
- TPG and Anchor experienced EOD risk due to the recent plunge in Kakao Bank’s stock price. So, they will sell shares if the current price rise continues a little further.
- All three PEs of Shinhan Financial are currently expected to be seeking an early exit although they expressed last year that they would remain strategic shareholders.
- Other notable targets are Hahn & Co’s Hanon Systems and K Car and MBK Partners’ ConnectWave, likely via a phased stake sale in tranches.
Thaicom: Gulf Energy’s Low-Balled MTO Now Open For Acceptances
- Back on the 7 November, Intouch Holdings (INTUCH TB)‘s board approved the sale of its 41.13% stake in Thaicom Pcl (THCOM TB) to Gulf Energy Development Public Company (GULF TB).
- The sale price was Bt 9.92/share, a 19.3% discount last close. Intouch shareholders overwhelmingly approved the sale on the 28 December, which subsequently triggered an MTO.
- The Offer is now open for acceptances. The Offer closes on the 9 February. Intouch will pass through 100% of the sale proceeds via a special dividend.
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