BG Container Glass Public Company Limited agreed to acquire Bangkok Visypak Company Limited, BG Packaging Company Limited and Kabinburi Glass Industry Company Ltd from BG Container Glass Public Company Limited for THB 4 billion.
October 14, 2020
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BG Container Glass Public Company Limited (SET:BGC) signed a basic agreement to acquire 100% stakes in Bangkok Visypak Company Limited, 100% stakes in BG Packaging Company Limited and 97.01% stakes in Kabinburi Glass Industry Company Ltd from BG Container Glass Public Company Limited (SET:BGC) for THB 4 billion on October 15, 2020. BG Container Glass Public Company Limited will pay approximately THB 500 million for 699,997 ordinary shares of Bangkok Visypak Company Limited representing 100% of total 700,000 issued shares, approximately THB 1,150 million for 3,399,998 ordinary shares of BG Packaging Company Limited, representing 100% of total 3,400,000 issued shares and approximately THB 2,328 million for 30,073,596 ordinary shares of Kabinburi Glass Industry Company Ltd, representing 97.01% of total 31,000,000 issued shares. BG Container Glass Public Company Limited will fund the acquisition through cash, raising capital and loan from financial institution. Post-acquisition, Amarat Puvaveeranin, Silparat Watthanakasetr, Sirikul Mangkornkanok and Teerayut Intatong will join Bangkok Visypak Co., LTD and BG Packaging Company Limited, Somporn Temudomsomboon, Silparat Watthanakasetr and Sirikul Mangkornkanok will join as board of directors of Kabinburi Glass Industry Co Ltd. The transaction is subject to signing of definitive agreement, approval of offer by BG Container Glass Public Company Limited shareholders and approval of offer by Bangkok Visypak Company Limited, BG Packaging Company Limited and Kabinburi Glass Industry Company Ltd shareholder. As of October 15, 2020, board of directors of BG Container Glass Public Company Limited approved the deal. The transaction is expected to close within March 2021. As of November 13, 2020, for the interests of the Company and its shareholders, the Board of Directors Meeting resolved to approve the cancellation of the schedule for Extraordinary General Meeting of Shareholders No. 1/2020, the cancellation of the agenda items regarding Acquisition of Assets, the increase of the Company's registered capital, the issuance and offering of warrants to purchase newly issued ordinary shares in the Company in the entirety, and the cancellation of the Record Date for determining the list of shareholders who are entitled to attend Extraordinary General Meeting of Shareholders which was scheduled on November 17, 2020. As of February 18, 2021, the Board of Directors of BG Container Glass Public Company Limited passed a resolution to approve the ordinary share purchase of the target companies. The transaction will be funded with the loan from financial institution(s)and the company’s internal cash flow. As of March 9, 2021, the transaction is expected to be completed within second quarter of 2021. Silom Advisory Company acted as financial advisor to BG Container Glass Public Company Limited.
BG Container Glass Public Company Limited is a Thailand-based company engaged in the glass packaging business. The principal activities of the Company are managing the distribution of glass bottles and other packaging and investing in other entities. The Company's subsidiaries are engaged in the manufacture and distribution of glass bottles and other packaging and supply chain management. Its segments include the manufacture and distribution of glass bottles; manufacture and distribution of other packaging, and Other business. The Company's product categories include customized designs manufactured and sold for specific customers, and standardized designs, which are standard glass containers that can be manufactured and sold to all customers. It manufactures glass containers for customers in various industries, including beer bottles, non-alcoholic beverage bottles, glass containers for food, glass containers for pesticides and medicine, and glass containers for other products.
BG Container Glass Public Company Limited agreed to acquire Bangkok Visypak Company Limited, BG Packaging Company Limited and Kabinburi Glass Industry Company Ltd from BG Container Glass Public Company Limited for THB 4 billion.
BG CONTAINER GLASS 
