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Byline: Charoen Kittikanya
Aug. 2--In a bid to establish a foothold in Thailand and make the local operation a springboard for exports to the region, BPB Gypsum BV is acquiring a controlling stake in Thai Gypsum Products Plc (TGP), a leading gypsum board maker.
The deal was made through Thaigips Holdings, which owns 369.4 million shares or 36.9 percent in TGP. BPB Gypsum controls 49 percent of Thaigips Holdings, and holds about a 30 percent stake in TGP.
Under the agreement, Thaigips Holdings will sell 162 million shares or 16.2 percent of TGP to Krisada Kampanatsanyakorn, the TGP board chairman. Mr Krisada already holds 18 million TGP shares.
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