Surya Kiran Investments Pte. Ltd. completed the acquisition of 79.3% stake in Thai Rayon Public Company Limited (SET:TR) from Grasim Industries Limited, Asseau Company Limited, Wholton Company Limited, Oneida Services Limited and others.
March 24, 2022
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Surya Kiran Investments Pte. Ltd. made an offer to acquire 79.3% stake in Thai Rayon Public Company Limited (SET:TR) from Grasim Industries Limited (NSEI:GRASIM), Asseau Company Limited, Wholton Company Limited, Oneida Services Limited and others for THB 8 billion on February 18, 2022. As per the transaction, Surya Kiran Investments Pte. Ltd. will acquire 79.3% stake at THB 50 per share. The transaction will be financed from a credit facility of THB 8.3 billion. The transaction is expected to complete on March 25, 2022. DBS Vickers Securities (Thailand) Company Limited acted as financial advisor and Linklaters (Thailand) Ltd acted as legal advisor to Surya Kiran Investments Pte. Ltd. On March 23, 2022, Thai Rayon Public have submitted an Amendments of the Company regarding the Tender Offer wherein they have made adjustment of selling shares by Theravarya and kores.
Surya Kiran Investments Pte. Ltd. completed the acquisition of 79.3% stake in Thai Rayon Public Company Limited (SET:TR) from Grasim Industries Limited (NSEI:GRASIM), Asseau Company Limited, Wholton Company Limited, Oneida Services Limited and others on March 25, 2022.
Grasim Industries Limited is an India-based global producer of viscose, diversified chemicals, linen yarn, and fabrics producer in India. The Companyâs segments include Viscose, Chemicals, Cement, Financial Services, and Others. The Viscose segment includes viscose staple fiber, wood pulp and viscose filament yarn. The Chemicals segment includes caustic soda, allied chemicals, and epoxy. The Cement segment includes grey cement, white cement, and allied products. The Financial Services segment includes non-bank financial services, life insurance services, asset management (AMC), housing finance, equity broking, wealth management, general insurance advisory and health insurance. The Others segment includes textiles, insulators, paints, solar power, and business-to-business e-commerce. Through its subsidiaries, UltraTech Cement Limited and Aditya Birla Capital Limited, the Company is also a cement producer and a diversified financial services company. Navyasa is its saree brand.
Surya Kiran Investments Pte. Ltd. completed the acquisition of 79.3% stake in Thai Rayon Public Company Limited (SET: TR) from Grasim Industries Limited, Asseau Company Limited, Wholton Company Limited, Oneida Services Limited and others.
GRASIM INDUSTRIES LIMITED 
