KCE Electronics Public Company Limited (SET:KCE) agreed to acquire additional 45% stake in KCE America, Inc. from Frederick Rust Rhodes for $5 million on December 4, 2017. Under the terms, KCE Electronics will acquire 22,500 shares for $220 per share. The consideration will be funded through cash flow from operation. Upon closing, KCE America will become a subsidiary of KCE Electronics. KCE America had net profit of $0.25 million and total assets of $25.22 million for 2016. The transaction is subject to approval of board of directors of KCE Electronics. As on December 4, 2017, the transaction has been approved by the board of directors of KCE Electronics. The transaction is expected to close by January 1, 2018. KCE Electronics Public Company Limited (SET:KCE) completed the acquisition of additional 45% stake in KCE America, Inc. from Frederick Rust Rhodes on January 1, 2018.