Government mandates Krung Thai privatization

As expected, Merrill Lynch emerges victor for what is expected to comprise a combined equity and debt transaction.

In a move, which will surprise almost no one, Merrill Lynch and Merrill Lynch Phatra have been officially awarded the mandate to privatize Krung Thai Bank KTB. Right from the outset, the US investment bank has been regarded as a shoe-in for the deal since Viroj Nualkhkair the honoury chairman of its Thai operations is also President of the government-owned bank.

The divestment will see government ownership drop to 49% and is scheduled to take place in November, with...

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