Thai Beverage Public Company Limited (SGX:Y92) made an offer to acquire remaining 20.34% stake in Oishi Group Public Company Limited (SET:OISHI) from a group of shareholders for THB 4.5 billion on March 10, 2023. As reported, Thai Beverage Public Company will make a tender offer for 76,279,602 shares in Oishi Group at a price of THB 59 per share, payable in cash. The deal will be financed through internal funds. In this regard, Thai Beverage Public Company has source of fund for this tender offer from credit facility from Siam Commercial Bank PCL under its?s existing credit facility with the Bank. Following the completion, Thai Beverage Public Company plans to delist the shares of Oishi from being securities listed on the Stock Exchange of Thailand. The offer is subject to approval from Oishi?s shareholders. On May 3, 2023, Oishi Group shareholders approved the transaction. As of May 12, 2023, all the conditions precedent for the transaction have been fulfilled. The offer period will be a total of 45 business days, from June 15, 2023 to August 21, 2023. Kiatnakin Phatra Bank Public Company Limited (SET:KKP) acted as financial advisor and Weerawong, Chinnavat & Peangpanor Ltd. acted as legal advisor to Thai Beverage Public Company Limited. Jay Capital Advisory Limited acted as independent financial advisor and provided fairness opinion to the Board of Oishi Group.

Thai Beverage Public Company Limited (SGX:Y92) completed the acquisition of remaining 20.34% stake in Oishi Group Public Company Limited (SET:OISHI) from a group of shareholders on August 21, 2023.