TTT+Partners successfully represented Jardine Cycle & Carriage Limited (“JC&C”) on a sale and purchase agreement with Sunrise Equity Company Limited. for the proposed sale of 76,107,368 shares in Siam City Cement Public Company Limited (“SCCC”), Thailand’s second largest cement producer listed on the Stock Exchange of Thailand
This transaction represents JC&C’s entire 25.54% stake in SCCC and is valued at THB 12.17 billion (~ USD 346 million). The transaction was closed on 19 August 2024. The sale consideration, at 160 baht per sale share, is above SCCC’s closing price of 141 baht on Aug 15, the market day preceding the announcement.
The buyer, Sunrise Equity, is an existing shareholder of SCCC, and also part of the Ratanarak Group, the controlling shareholder of SCCC, holding an aggregate 46.35% interest in SCCC.
TTT+Partners team was led by Veeranuch Thammavaranucupt, working alongside James Lawden, Arnut Pongprueksa, and Supitchaya Chanpal.
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