Carabao Group Public Company Limited entered into a share purchase agreement to acquire remaining 26% stake in Asia Can Manufacturing Co., Ltd from Showa Denko K.K. for THB 550 million.

Carabao Group Public Company Limited (SET:CBG) entered into a share purchase agreement to acquire remaining 26% stake in Asia Can Manufacturing Co., Ltd from Showa Denko K.K. (TSE:4004) for THB 550 million on February 19, 2021. As per the agreement, Carabao Group Public Company Limited will acquire 1.82 million ordinary shares of Asia Can Manufacturing. Consequently, in the post transaction, the Company's shareholding in ACM shall increase to 100% and the management team estimates that profit attributable to equity holders of the Company will be increased by THB 60-70 million, compared to 2020.

Post completion, Asia Can Manufacturing will become wholly owned subsidiary of Carabao Group Public Company Limited. The payment and shares transfer are expected to be completed within first quarter 2021.