Ratch Group Public Company Limited (SET:RATCH) made an offer to acquire remaining 49% in Sahacogen (Chonburi) Public Company Limited (SET:SCG) from a group of shareholders for THB 3.3 billion on December 13, 2021. Under the terms Ratch Group Public Company Limited will acquire 570.21 million shares for THB 5.75 per share. The consideration will be paid on February 2, 2022. Pre acquisition, Ratch Group Public Company Limited held 51% stake in Sahacogen (Chonburi) Public Company Limited. Ratch Group Public Company will fund the offer though received credit facilities granted by The Siam Commercial Bank Public Company Limited in the amount of THB 734 million. Saha Pathana Inter-Holding Public Company Limited, S&J International Enterprises Public Company Limited, I.C.C. International Public Company Limited, Saha Pathanapibul Public Company Limited and Weerapat Punsakudomsi holding 442.6 million shares informed Ratch Group about intention of not selling their shares in the tender offer. On January 5, 2022, the Board of Directors' meeting of SCG resolved to appoint three additional directors, namely Natapong Vanarat, Independent Director/Audit Committee Member, Pongtep Thithapand, Independent Director/ Audit Committee Member and Chaisak Yongbanjerd, Independent Director. The Offeror has no intention to delist SCG from the SET. The Board of Directors of SCG opinion that the offering price of THB 5.75 per share is reasonable and recommends the shareholders to accept the offer, in the case, where, during the tender offer period, the market price is lower then the offering price and reject the offer where, during the tender offer period, the market price is higher than the offering price. As perupdate on January 26, 2022, fairness opinion provider has the opinion that offer price is fair and reasonable. The shareholders should accept the offer.

The tender offer will open on December 24, 2021 and close on January 31, 2022. DLA Piper (Thailand) Company acted as legal advisor to Sahacogen (Chonburi) Public Limited. Darin Kanjana of The Siam Commercial Bank Public Company Limited acted as the tender offer preparer and SCB Securities Company Limited acted as the tender offer agent. Advisory Plus Company Limited acted as financial advisor and fairness opinion provider to Sahacogen (Chonburi) Public Company Limited.