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Big C Thailand confirmed on Monday that the TCC Group has taken over 58.56 percent of the hyper market operations in Thailand and Vietnam in a US$3.4 billion (121 billion baht) deal with France’s Casino Group.
Ms Rampa Kamhomchuen, chief financial officer and vice president for accounting of Big C Super Centre Plc, said Monday that Geant International BV, the major shareholder of Big C, entered into a deal to sell 484 million of its shares to TCC Group at 252.88 baht per share.
She said she expected an announcement about the deal to be made before the opening of the stock market. She added that the deal was expected to be completed within March 31. After the conclusion of the share sale deal, the TCC Group will be required to make a tender offer for Big C shares.
Big C is Thailand’s second largest hypermarket operator after Tesco Lotus.