Siam Cement Expansion Challenges Ace Hardware Domination

By Editorial Team 06/12/2021
Online shopping
Summary

The Thai business conglomerate Siam Cement Group (SCG) bought a 12.75 percent stake in PT Caturkarda Depo Bangunan (DEPO). This acquisition was made through Global House International, a joint-venture subsidiary of Siam Cement Public (SCC) and Siam Global House (GBH).

The acquisition of Caturkarda Depo Bangunan's (DEPO) shares is one of SCG's strategies to expand its retail business in the ASEAN region. This share purchase was carried out during the initial public offering (IPO) of Depo Bangunan at a price of Rp 482 per share on November 25. The total acquisition value is Rp 417.24 billion, equal to 0.08 percent of the total assets listed in Siam Cement Group's consolidated financial statements and 1.34 percent of Global House International's (GBI) total assets as of September 30, 2021.

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