The EGM Approves PDI to Acquire 51% Stake in 2 High-End Hotel Operators in Thailand

Padaeng Industry Public Company Limited (PDI) has announced that the Extraordinary General Meeting of Shareholders on February 1, 2021, approved the entering into the asset acquisition transaction and the receiving financial assistance, which is considered as a connected transaction, by approving for the investment on 51 percent of paid-up capital in Urban Resort Hotel Company Limited (URH) and Waterfront Company Limited (WFH) and approving for URH and WFH to receive financial assistance from a connected company.

 

URH is the operator of Four Seasons Hotel Bangkok at Chao Phraya River, while WFH is the operator of Capella Bangkok. The total investment value is 2,805 million baht.