SKY Acquires SAL’s 46.8% Stake with ฿212mn to Expand Business in Aviation Industry

Sky ICT Public Company Limited (SKY) announced the Board Meeting held on 14 July 2020 has approved the investment in Sal Group (Thailand) Company Limited (SAL) in the proportion of 46.80% of the total registered and paid-up capital of SAL, with the total transaction value of 212,116,248 THB. 

 

SAL is a holding company that holds 51% of the total shares of AOT Ground Aviation Services Co., Ltd. (AOTGA), which a joint venture between SAL and Airports of Thailand Public Company Limited (AOT), engages in the business of providing aircraft and passenger services at airports that are under the responsibility of AOT.

 

In regard to the shareholding proportion, SKY will hold 46.80% of the total shares of SAL by buying shares from 2 existing shareholders 1) Triple I Logistics Public Company Limited amount 913,027 shares, representing 33.20% of the total shares. Total transaction value is 157,716,284 THB and 2) My Box Company Limited amount 374,000 shares, representing 13.60% of the total shares. Total transaction value is 54,400,000 THB.

 

The purchase of the shares of SAL objection is an extension of the aviation industry business which SKY has a base for engineering services, CCTV system, air ticketing system, WiFi service and luggage storage service in the Suvarnabhumi Airport, Don Mueang Airport, Chiang Mai Airport, Chiang Rai Airport, Phuket Airport, Hat Yai Airport, and ready to expand the business to provide ground handling service entire in the airport.