Thanulux Public Company Limited (SET:TNL) agreed to acquire 50% stake Khu Khot Station Alliance Company Limited from U City Public Company Limited (SET:U) for THB 110 million on September 30, 2022. The transaction is subject to regulatory approval and shareholder's approval of U City Public Company. As of December 31, 2021, Khu Khot Station Alliance Company Limited reported total assets of THB 1.1 billion, net loss of THB 25.5 million and negative total common equity of THB 51 million. The Company expects to complete the Transactions by December 2022. Silom Advisory Co., Ltd. acted as financial advisor to U City Public Company Limited.

Thanulux Public Company Limited (SET:TNL) completed the acquisition of 50% stake Khu Khot Station Alliance Company Limited from U City Public Company Limited (SET:U) on December 31, 2022.