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Thai Pulp, Paper Firm Takes Control of Rival.
Byline: Busrin Treerapongpichit
Jan. 4--Siam Pulp and Paper Plc, the paper production flagship of the Siam Cement Group, has taken a 60 percent stake in Phoenix Pulp and Paper Plc and full management control, after the tender offer deal expired yesterday.
According to a Siam Pulp source, the offer had attracted a positive response from small investors who represented 12-13 percent of the shares sold.
Siam Pulp had earlier acquired a 24.98 percent stake in Phoenix from Janpath Investments Holding Ltd, an affiliate of India's Ballarpur Group, at 48 baht per share.
It later announced a formal tender offer to increase its shareholding in ...
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Source: HighBeam Research, Thai Pulp, Paper Firm Takes Control of Rival.