Eksupsiri Company Limited reached a conditional agreement to acquire 60.86% stake in The Siam Commercial Samaggi Insurance Public Company Limited (SET:SCSMG) from The Siam Commercial Bank Public Company Limited (SET:SCB) for THB 3.7 billion in cash on January 10, 2014. Eksupsiri Company Limited will purchase 135.7 million shares of The Siam Commercial Samaggi Insurance Public Company at THB 27.6 per share and at closing of the deal will make a mandatory tender offer for the remaining 39.1% equity stake at THB 27.6 per share in compliance with Thai regulations. The transaction is subject to completion of due diligence and customary closing conditions including regulatory clearance and approval by Siam Commercial Bank's shareholders in a meeting to be held on April 3, 2014 and Board of Directors. Siam Commercial Bank's shareholders approved the deal on April 3, 2014. The transaction is expected to be completed in the second quarter of 2014.

Citigroup acted as the financial advisor for Eksupsiri Company Limited. The Siam Commercial Bank Public Company Limited and Barclays acted as the financial advisor for The Siam Commercial Bank Public Company Limited. Baker & McKenzie Ltd. and Jake Robson of Morrison & Foerster acted as legal advisor for Eksupsiri Company Limited. Weerawong Chittmittrapap of Weerawong, Chinnavat & Peangpanor acted as legal advisor for Siam Commercial.