TPG Newbridge buys a stake in BankThai
The private equity firm will subscribe to new shares in the Thai bank, paying $70 million for a 25% stake.
BankThai informed the Thailand Stock Exchange yesterday that its directors have approved an investment of Bt2.3 billion $70 million by TPG Newbridge in the bank for a 24.99% stake. TPG will subscribe to new shares. The investment is yet to be approved by BankThai shareholders.
BankThaiÆs consolidated book value per share as at December 31 last year was Bt3.09. At the agreed price of Bt4.17 per share, TPG Newbridge has paid a book value multiple of 1.35...
To continue reading, please login or register for free