Tipco Asphalt Public Company Limited agreed to acquire additional 37.5% stake in Thai Slurry Seal Co. Ltd. from Supsakorn family and Colas S.A. for approximately THB 380 million.

Tipco Asphalt Public Company Limited (SET:TASCO) agreed to acquire additional 37.5% stake in Thai Slurry Seal Co. Ltd. from Supsakorn family and Colas S.A. for approximately THB 380 million on January 14, 2021. In the acquisition, Tipco Asphalt Public Company Limited will acquire 1.9 million shares.

Currently, Tipco Asphalt holds 25% stake, Colas S.A. holds 37.5% and Supsakorn family holds 33.9% stake. Post completion, Colas S.A. will hold 18.8% stake, Supsakorn family will hold 15.1% stake and Tipco will hold 62.5% stake. The consideration will be financed with available cash and/or loan.

Tipco Asphalt Public Company Limited Board of Directors unanimously approved the deal. The deal will close in February 2021.