Fire Victor Public Company Limited agreed to acquire entire business of Chillmatch Company Limited from a group of sellers for approximately THB 570 million.

Fire Victor Public Company Limited (SET:FIRE) agreed to acquire entire business of Chillmatch Company Limited from a group of sellers for approximately THB 570 million in stock on September 5, 2016. Under the terms of the agreement, the consideration will be settled by issue of 234.5 million new shares of Fire Victor Public Company Limited. The transaction also includes acquisition of QIIS Company Limited, subsidiary of Chillmatch Company. Fire Victor Public Company intends to change its name to Harn Engineering Solutions Public Company Limited after the acquisition. Chillmatch Company Limited reported total assets of THB 315.19 million, total shareholder equity of THB187.1, revenues of THB 513.49 million, net profit of THB 54.71 million for the year ended December 31, 2015. The transaction is subject to approval of not less than three-fourths of the total votes of Fire Victor Public Company Limited's and Chillmatch’s shareholders attending such meeting and having the right to vote, approval of Thailand Stock Exchange to list the new shares and relisting of stock, consent of TMB Bank Public Company Limited and Kasikornbank Public Company Limited. The transaction has been approved by the Board of Fire Victor. The extraordinary general meeting of the shareholders of Fire Victor Public Company is scheduled to be held on November 1, 2016. Advisory Plus Company Limited acted as independent financial advisor for Fire Victor Public Company Limited.