Wongcharoensin Group made an offer to acquire remaining 48.7% stake in C.P.L. Group Public Company Limited (SET:CPL) for approximately THB 440 million on January 10, 2017. Under the terms of the transaction, Wongcharoensin Group will acquire 12.9 million shares of C.P.L. Group Public Company Limited for THB 34.28 per share. Wongcharoensin Group comprised of Charoensin Holding Company Limited, Charoensin Asset Company Limited, Manoch Wongcharoensin, Thidaporn Wongcharoensin, Vivat Wongcharoensin, Nutnapa Wongcharoensin, Natthakit Wongcharoensin, Rattanachai Wongcharoensin, Usa Wongcharoensin, Puvasith Wongcharoensin, Wuttichai Wongcharoensin, Natthajak Wongcharoensin, Theerawat Wongcharoensin, Thavatchai Wongcharoensin, Somsuk Wongcharoensin, Suwatchai Wongcharoensin, Ratchanee Wongcharoensin, Kitichai Wongcharoensin, Napattavat Wongcharoensin, Veerachai Wongcharoensin, Manit Wongcharoensin, Payao Wongcharoensin and Issara Wongcharoensin. Wongcharoensin Group currently holds 51.3% stake in C.P.L. Group Public Company Limited. The offer period is from January 13, 2017 to March 17, 2017. The transaction is subject to C.P.L. Group Public Company shareholders’ approval in a meeting scheduled on February 23, 2017. On January 10, 2017, the transaction is approved by the Board of Directors of C.P.L. Group Public Company. Thanachart Securities Public Company Limited acted as the tender offer preparer in the transaction. S 14 Advisory Company Limited acted as financial advisor to C.P.L. Group Public Company Limited (SET:CPL). As on February 1, 2017 S 14 Advisory Company Limited provide the opinion in favor of the transaction. As on February 20, 2017, Independent financial advisor suggests that the value of CPL share after the acceptance of entire business transfer base on the valuation of independent financial advisor is THB 36.87. The final decision to accept or reject the tender offer therefore is at the discretion of the shareholders. As on March 14, 2017, CPL issued an amendment to its opinion regarding the on the tender offer and stated that if CPL is able to issue the new shares to Pangolin Safety Products Company Limited (PSP) in consideration of the acceptance of the entire business transfer at THB 34.28 per share within the tender offer period, the Wongcharoensin Group would have no duties to again make a tender offer for the entire securities of CPL. However, if CPL is unable to issue the new shares to PSP within such tender offer period and if the number of shares held by certain members of the Wongcharoensin Group who are shareholders of PSP that will be distributed with CPL Shares, resulting in the number of shares held by the Wongcharoensin Group exceed the trigger point of 75% of the total voting rights of the CPL, the Wongcharoensin Group will reduce its holding of such shares and abstain from exercising voting rights of shareholding.