Mitsui Fudosan Asia Co., Ltd. completed the acquisition of 49% stake in AMH Ratchada Co., Ltd., AMH Sathorn Co., Ltd., AMH Sukhumvit 59 Co., Ltd. and AMH Sukhumvit 8 Co., Ltd. from Ananda Development Public Company Limited.
January 14, 2019
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Mitsui Fudosan Asia (Thailand) Co., Ltd. agreed to acquire 49% stake in AMH Ratchada Co., Ltd., AMH Sathorn Co., Ltd., AMH Sukhumvit 59 Co., Ltd. and AMH Sukhumvit 8 Co., Ltd. from Ananda Development Public Company Limited (SET:ANAN) for THB 0.20 million on December 21, 2018. Under the terms, Mitsui Fudosan Asia (Thailand) Co., Ltd. will acquire 490 shares each in AMH Ratchada Co., Ltd., AMH Sathorn Co., Ltd., AMH Sukhumvit 59 Co., Ltd. and AMH Sukhumvit 8 Co., Ltd. Post completion, Ananda Development Public Company Limited will hold 51% stake and Mitsui Fudosan Asia (Thailand) Co., Ltd. will hold 49% stake each in AMH Ratchada Co., Ltd., AMH Sathorn Co., Ltd., AMH Sukhumvit 59 Co., Ltd. and AMH Sukhumvit 8 Co., Ltd. The source of funds will be derived from capital and loan from shareholders.
Post completion, the new Board of Directors will constitute the following members: - Sermsak Khwanpuang, Patcharavalai Ruangkritya, Jakrit Tejavanich, Tomoo Nakamura, Mitsuru Umemura and Kota Takemori. The Board of Directors of Ananda Development Public Company Limited approved the transaction. The transaction is expected to complete in January 2019. Ananda Development Public Company Limited will use the proceeds from the sale for for developing the serviced apartment project.
Mitsui Fudosan Asia (Thailand) Co., Ltd. completed the acquisition of 49% stake in AMH Ratchada Co., Ltd., AMH Sathorn Co., Ltd., AMH Sukhumvit 59 Co., Ltd. and AMH Sukhumvit 8 Co., Ltd. from Ananda Development Public Company Limited (SET:ANAN) on January 15, 2019.
Ananda Development Public Company Limited is a Thailand-based company that is engaged in the real estate development business. The Company is principally engaged in the development and sale of real estate, provision of house construction services and management of real estate development projects. Its real estate development projects include condominium projects, housing projects and townhouses in Bangkok and its vicinity. Its segments include the real estate development segment, which develops all types of real estate projects; Management of real estate development project segment, which provides management service for real estate projects, and Other segments, which include services relating to real estate brokerage, among other things. It has developed condominium projects under Ashton, Ideo Q, Venio, Ideo Mobi, Ideo, Elio, and Unio brands. It has developed housing and townhouses projects under Artale, Airi, Atoll, Anda, Urbanio, and Unio Town brands.
Mitsui Fudosan Asia Co., Ltd. completed the acquisition of 49% stake in AMH Ratchada Co., Ltd., AMH Sathorn Co., Ltd., AMH Sukhumvit 59 Co., Ltd. and AMH Sukhumvit 8 Co., Ltd. from Ananda Development Public Company Limited.
ANANDA DEVELOPMENT 
