ANAN Acquires All Shares in “Ananda MF Asia Ratchathewi” to Take Full Control in the JV

Ananda Development Public Company Limited (ANAN) has announced that the Board of Directors’ Meeting dated December 22, 2020 resolved to approve the share purchase of 2,695,000 shares or 49% in the joint venture company, Ananda MF Asia Ratchathewi Co., Ltd. under the Joint Venture Agreement from Sea Investment Five Pte. Ltd. which is not a connected person of ANAN.

 

The Ananda MF Asia Ratchathewi Co., Ltd. has operated the property development business, condominium project and has the shareholdings structure as follows:

The total value of the share purchase of Ananda MF Asia Ratchathewi Co., Ltd. is Baht 288,957,900 or Baht 107.22 per share. ANAN will pay to Sea Investment Five Pte. Ltd. in cash basis at the date of the Share Purchase Agreement or within December 2020. The share purchase of Ananda MF Asia Ratchathewi Co., Ltd. will not have any obligations to the company.

 

As of the end of December 2019, Ananda MF Asia Ratchathewi Co., Ltd. had total liabilities and shareholders’ equity of 679,803,158 baht, compared to total assets of 910,680,871 baht in 2018.

Ananda MF Asia Ratchathewi Co., Ltd. recorded a total revenue of 353,335,724 baht in 2019, compared to a revenue of 1,244,538,933 baht in 2018, while booking net profit of 28,202,689 baht in 2019, compared to a net profit of 179,089,563 baht in 2018.