Nattapong Seetavorarat and Boon-aue Chitthanon agreed to acquire 61.5% stake in Nation Broadcasting Corporation Public Company Limited (SET:NBC) from Nation Group (Thailand) Public Company Limited (SET:NATION) for approximately THB 900 million on March 4, 2022. As per terms, Nation Group will sell 691 million shares at THB 1.30 per share. Nattapong Seetavorarat and Boon-aue Chitthanon are required to make a tender offer for all securities of NBC post completion.

The transaction is approved by the board of Nation Group and is subjected to the approval of its shareholders, business restructuring of NBC and satisfactory due diligence. The shareholders of Nation Group approved the transaction. The transaction is expected to complete within July 2022.

Avantgarde Capital Company Limited acted as financial advisor to Nation Multimedia Group and Capital Link Advisory Co., Ltd. acted as financial advisor to Nation Broadcasting Corporation.