SCC Acquires 9.90% Stake in TEAMG, Enabling Joint Working on Green Construction Solution
SCC announces the acquisition of 9.90% stake in by its wholly-owned subsidiary Nexter Ventures Company Limited
The Siam Cement Public Company Limited (SCC) announces that Nexter Ventures Company Limited (Nexter Ventures), a wholly owned subsidiary of SCC, has completed the acquisition of a 9.90% stake in Team Consulting Engineering Public Company Limited (TEAMG). This was done via the purchase of 67,328,800 common shares in TEAMG, or 9.90% of total shares outstanding, at 2.54 Thai Baht/share, equaling a transaction size of approximately 171 million Thai Baht.
TEAMG principally engages in providing integrated engineering, environmental, and project management consulting services to diversified industries. Its platform complements SCC‘s cement and building material business which focuses on developing and offering solutions to serve customers’ needs.
This acquisition will enable joint collaboration and the creation of innovative solutions such as environmentally friendly construction technologies (Green Construction Solution) to help reduce construction waste, optimize budget and shorten construction period.