T.K.S. Technologies Public Company Limited completed the acquisition of an additional 57.85% stake in Thai British Security Printing Public Company Limited for THB 1 billion.
April 03, 2018
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T.K.S. Technologies Public Company Limited (SET:TKS) made an offer to acquire remaining 80.11% stake in Thai British Security Printing Public Company Limited (SET:TBSP) for THB 1.4 billion on December 12, 2017. Under the terms, T.K.S. Technologies Public Company Limited will acquire 88.1 million shares at THB 15.7 per share. T.K.S. Technologies Public Company Limited will fund the transaction with credit facility supported by the Siam Commercial Bank Public Company Limited at the amount not exceeding THB 1.4 billion. In addition, buyer will raise funding from the capital increase via rights offering in the amount of approximately THB 600 million to partially or fully repay the debt related to the conditional tender offer, from the financial institution. T.K.S. Technologies Public Company does not have an intention to delist Thai British Security Printing Public Company (TBSP) from being the registered securities on the Stock Exchange of Thailand during the 12 months period after the end of the tender offer period, except in the case that TBSP is not eligible to maintain its listing status as stipulated by the applicable rules and regulations and is required to delist its securities from being the registered securities.
The tender offer shall take place provided that T.K.S. Technologies Public Company Limited obtains approval from its shareholders in a meeting which will be held on February 15, 2018. The tender offer is approved by the Board of Directors of T.K.S. Technologies Public Company Limited. The transaction has been approved by the shareholders of T.K.S. Technologies Public Company Limited at the Extraordinary General Meeting held on February 15, 2018. In the meeting of the board of directors of Thai British Security Printing Public Company Limited held on March 12, 2018, the board agreeing with the opinion of its financial advisor, recommended shareholders to reject the offer in lieu of its opinion on lower than fair price and certain other factors. The tender offer period will be from February 28, 2018 to April 4, 2018. Worawas Wassanont of Avantgarde Capital Co., Ltd will be acting as the financial advisor to T.K.S. Technologies Public Company Limited in the transaction. Paradorn Leosakul of The Capital Law Office Limited acted as legal advisor to T.K.S. Technologies Public Company Limited. TMB Bank Public Company Limited served as tender offer preparer while SCB Securities Company Limited served as tender offer agent.
T.K.S. Technologies Public Company Limited (SET:TKS) completed the acquisition of an additional 57.85% stake in Thai British Security Printing Public Company Limited (SET:TBSP) for THB 1 billion on April 4, 2018. Post completion, T.K.S. Technologies Public Company Limited holds 77.6% stake in Thai British Security Printing Public Company Limited.
SCG Packaging Public Company Limited is a Thailand-based comprehensive packaging solutions provider. The Company operates through three segments: Integrated Packaging Business, Fibrous Business, and Recycling Business and Other. Integrated Packaging Business segment comprised of packaging paper, consumer and performance packaging, both flexible packaging and rigid packaging in the industries of consumer, food and beverage, and medical supplies and labware, and fiber-based packaging, such as corrugated containers, retail display packaging, recycled paper bags for consumer products, and industrial bags. Fibrous Business segment comprised of foodservice packaging, printing and writing paper, and pulp products. Recycling Business and Others segment comprised of packaging materials recycling and holding company. Its products range include Packaging, Innovative packaging, Foodservice product, Paper & Pulp, Forestry, Design service, Marketing and event, SCGP Recycle, and Healthcare Products.
T.K.S. Technologies Public Company Limited completed the acquisition of an additional 57.85% stake in Thai British Security Printing Public Company Limited for THB 1 billion.
SCG PACKAGING 
