Bangkok--10 Feb--Big C Supercenter
Big C has announced today, as informed by Casino Group, that Geant International BV, the major shareholder of the company has entered into a share sale agreement with TCC Corporation Limited. The completion of the sale is expected to occur by 31 March 2016. Meanwhile, Big C will continue its 2016 strategic priorities, under 6-7 billion baht of budget, including store expansion and Alcudia renovations.
Ms. Rumpa Kumhomreun, CFO and Vice President, Accounting & Finance at Big C Supercenter says, "After the announcement of selling the group's operations in Vietnam in the middle of December 2015, Casino Group started receiving expressions of interest for its publicly listed subsidiary Big C in Thailand. Today, Big C Supercenter PCL has announced that it has been informed by Casino Group, that Geant International BV, the major shareholder of the company has entered into a share sale agreement with TCC Corporation Limited in respect of the sale of the sale and purchase of 483,077,600 shares in the company, both directly and indirectly. The sale represents 58.56% of the total issued shares in the company and the price per share equals to 252.88 baht. The total price of the shares in the company may be reduced by an amount corresponding to the amount of dividend which may be paid by the company to the seller pursuant to the resolution of 2016 Annual General Meeting of Shareholders of the Company. And the completion of the sale is expected to occur no later than 31 March 2016."
In December 2015, Big C set strategic priorities for the company in 2016 to further strengthen its platform and expand stores covering 6 hypermarkets, 3 Big C Markets and 75 Mini Big C stores. Further 7 major Alcudia renovations should be completed during 2016, including Lopburi and Bangple stores where the works started in July 2015.
As of today, Big C recorded a total number of 125 large format stores (Big C Supercenter, Extra and Jumbo), 55 Big C Market, 394 Mini Big C and 146 Pure Drugstores.