KTC to take 75.05% stake in KTB Leasing
Meeting to approve deal slated for April
SET-listed Krungthai Card Plc (KTC) is in the process of acquiring a 75.05% stake in Krungthai Leasing Co Ltd (KTB Leasing) from Krungthai Bank (KTB), aiming to expand financial services to cover secured loan products.
KTC’s board of directors on Wednesday approved the company purchasing 75.05 million shares of KTB Leasing at 7.92 baht per share, which is equivalent to a share purchase of 594 million baht, from KTB. KTB is a major shareholder of KTB Leasing with a 49.29% stake.
KTC, providing credit card and personal loan products, is scheduled to hold an annual shareholders’ meeting to approve the acquisition deal in April.
KTB plans to submit the deal for approval with the Bank of Thailand.
Established in 2005, KTB Leasing mainly…
