We are pleased to announce that TTT+Partners successfully represented GMM Grammy Public Company Limited (Grammy) in securing a call option agreement with Mr. Pitharn Ongkosit as the grantor. This agreement grants Grammy exclusive rights to acquire shares in a holding company wholly owned by Mr. Ongkosit, with its principal asset being a 10% equity stake in The ONE Enterprise Public Company Limited (ONEE), one of the industry leaders in media and entertainment in Thailand.
The call option agreement was signed on 28 February 2024, and will be effective upon Grammy’s shareholder approval. If secured, this would be obtained at the end of April 2024. The exercise period for this option expires in February 2025, with the transaction’s total value surpassing THB 900 million (~ USD 25 million).
This strategic move provides Grammy with a unique opportunity to further solidify its presence in ONEE. Currently standing as the largest major shareholder with a 25.09% stake, Grammy’s decision to enter into this call option agreement reflects its commitment to expanding and enhancing its position in ONEE, a key player in the industry.
The TTT+Partners team was lead by Veeranuch Thammavaranucupt, Arnut Pongprueksa and Juree Thanompichai, working alongside Maythawi Boonyapinyo.
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