BAY Sells 50% Stake of “Ngern Tid Lor” Partners with CP Group
The well-known BAY’s Ngern Tid Lor is now partnered with Equity Partners Limited, a company who has C.P. Group as its partner.
Bank of Ayudhya Public Company Limited (BAY) has made an amendment of BAY’s shareholding in its subsidiary by selling ordinary shares in Ngern Tid Lor Company Limited (BAY’s subsidiary with 100% shares held by BAY providing blue-book auto loans, hire purchasing for used trucks, personal loan under supervision, nano-financing and non-life insurance) amounting to 50% to Siam Asia Credit Access PTE LTD., a company ultimately owned by a consortium led by CVC Capital Partners Asia Fund IV and Equity Partners Limited to support the realignment of out Financial Business Group.
However, this transaction is to subject to satisfactory completion of conditions precedent and regulatory filings.
According to Kaohoon Online’s finding, the Chearavanont’s family or C.P. Group is Equity Partners Limited’s partner.
