SET-listed Gulf Energy Development, the country’s biggest private power producer by market value, has announced its intention to acquire InTouch Holdings, the parent firm of the country’s biggest telecom operator, Advanced Info Service (AIS), through a share purchase worth 168.9 billion baht.
Smith Banomyong, Gulf’s chief for asset management and investment, said the buyout is expected to be completed within July.
“E-commerce and digital platform-based businesses are growing and will become a promising new business for Gulf,” he said.
Gulf informed the Stock Exchange of Thailand on Monday it aims to invest in InTouch’s shares through a conditional voluntary tender with the tender offer price of 65 baht per share. The…
