Chatchai Piyasombatkul made an offer to acquire remaining 75% stake in Nirvana Daii Public Company Limited (SET:NVD) from group of sellers for THB 2.6 billion on June 2, 2021. Under the term, Chatchai Piyasombatkul will acquire 1.04 billion shares of Nirvana Daii Public Company Limited at THB 2.52 per share. Post completion, Chatchai Piyasombatkul will hold 100% stake in Nirvana Daii Public Company Limited. The source of funding for tender offer takes form of credit facility worth THB 850 million granted by Bangkok Bank Public Company Limited, which is sufficient to cover the settlement of all tendered shares in NVD. As at the date of submission of tender offer, Wattana Somwattana, Sornsak Somwattana and Jutamas Somwattana expressed their intention to decline the sell shares to offeror of tender offer, which represents 51.23% of total issued shares. As on June 29, 2021, If all shareholders except the Dissenting Shareholders accept the Tender Offer for an aggregate of 328.232059 million shares, equal to 23.77% of the total issued and paid-up shares of the Business, Chatchai Piyasombatkul will be the sole acquirer of all those tendered shares and will hold 673.382059 million shares representing 48.77% stake and Wattana Somwattana will hold 340.6 million shares, Sornsak Somwattana will hold 363.4 million shares and Jutamas Somwattana will hold 3.1 million shares representing 24.67% stake, 26.33% stake and 0.23% stake respectively. Chatchai Piyasombatkul has the right to sell back part or all of NVD shares in the form of put option to Wattana Somwattana and Sornsak Somwattana in an amount of not exceeding 441.791993 million shares or not exceeding 32% of total paid-up ordinary shares of NVD. The tender offer is expected to be submitted by June 14, 2021. Tender offer period will last from June 15, 2021 till July 19, 2021. Allen & Overy (Thailand) Company Limited acted as a legal advisor to Chatchai Piyasombatkul. Krungthai Zmico Securities Company Limited prepared the offer. Weerawong, Chinnavat & Peangpanor Ltd. acted as legal advisor for seller in the transaction. I V Global Securities Public Company Limited was appointed as the independent financial advisor to Nirvana Daii Public Company Limited to provide opinion to shareholders regarding the tender offer.