Wattana Somwattana, Sornsak Somwattana, Anuchat Angsumethangkoon, Thanit Koosuwan, Jidapa Tratulakarn, Vichien Jearkjirm, Juthamas Somwattana and Gulissara Angsumethangkoon completed the acquisition of 51.6% stake in Nirvana Daii Public Company Limited from Singha Estate Public Company Limited (SET:S).
January 06, 2021
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Wattana Somwattana, Sornsak Somwattana, Anuchat Angsumethangkoon, Thanit Koosuwan, Jidapa Tratulakarn, Vichien Jearkjirm, Juthamas Somwattana and Gulissara Angsumethangkoon entered into a memorandum of understanding to acquire 51.6% stake in Nirvana Daii Public Company Limited (SET:NVD) from Singha Estate Public Company Limited (SET:S) for THB 1.8 billion on October 7, 2020. On November 23, 2020, parties reached an agreement. As per terms, group of buyers will acquire approximately 711.86 million shares at THB 2.52 per share and will increase their stakes in Nirvana Daii Public Company Limited from 20.74% to 72.3%. Post-completion, Nirvana Daii Public Company Limited will cease to be the subsidiary of Singha Estate Public Company Limited. The transaction is subject to consummation of due diligence which is expected to be completed within November 16, 2020. The transaction is expected to close on December 18, 2020. DN 36 Company Limited acted as a legal advisor to the group of buyers. Duangkamon Amkaew of Baker & McKenzie Ltd. acted as a legal advisor to Singha Estate Public Company Limited.
Wattana Somwattana, Sornsak Somwattana, Anuchat Angsumethangkoon, Thanit Koosuwan, Jidapa Tratulakarn, Vichien Jearkjirm, Juthamas Somwattana and Gulissara Angsumethangkoon completed the acquisition of 51.6% stake in Nirvana Daii Public Company Limited (SET:NVD) from Singha Estate Public Company Limited (SET:S) on January 6, 2021. Wattana Somwattana and Sornsak Wattana acquired 427 million shares representing 30.97% stake and 284 million shares representing 20.59% stake respectively in Nirvana Daii Public Company Limited. Post completion, Wattana Somwattana and Sornsak Wattana will hold 560 million shares representing 40.57% stake and 363 million shares representing 26.33% stake respectively in Nirvana Daii Public Company Limited.
Nirvana Development Public Company Limited is a Thailand-based company engaged in the development of real estate for sale, construction services and a distributor of precast concrete products in Thailand. The Company operates through three segments: Real Estates, Construction and Other. The Real Estates segment develops high-rise and low-rise residential projects. The Construction segment includes construction and home building service according to customer requests on customerâs land. The Company is also engaged in manufacturing and distributing home products. It operates a real estate development for sale, including land development for sale, both inside and outside of land development projects, and the development of residential real estate projects, such as single homes, townhomes, home offices, and condominiums. In addition, the Company also operates a home construction business for clients, both in the Companyâs land development projects and a joint development project.
Wattana Somwattana, Sornsak Somwattana, Anuchat Angsumethangkoon, Thanit Koosuwan, Jidapa Tratulakarn, Vichien Jearkjirm, Juthamas Somwattana and Gulissara Angsumethangkoon completed the acquisition of 51.6% stake in Nirvana Daii Public Company Limited from Singha Estate Public Company Limited (SET: S).