Sansiri offers Standard shares to Hyatt

PUBLISHED : 21 Aug 2024 at 18: 55 Listen to this shortarticle The Standard at Bangkok Mahanakhon. (Photo courtesy of The Standard, Bangkok Mahanakhon Facebook) Shares of Sansiri Plc (SIRI) increased by almost 5% on Wednesday after Thailand’s leading home designer revealed an arrangement to sell shares of the US-based wayoflife hotel Standard International to the Hyatt group for UnitedStates$355 million. In its filing to the Stock Exchange of Thailand (SET) on Wednesday, Sansiri board chairman Apichart Chutrakul revealed the sale of 71% of its UnitedStates subsidiary Standard International Holdings (SIH) to Hyatt Corporation and Hyatt International Corporation. The arrangement to sell all equity interests at a overall purchase rate of approximately $355 million consistsof $150 million inadvance to be paid on conclusion of the deal, an earnout perk of $10 million based on efficiency following the conclusion
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