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Thai Shopping-Centre Giant Eyes 2.5 Billion Baht in Purchases.
Byline: Nondhanada Intarakomalyasut
Sep. 7--Central Pattana Plc, Thailand's biggest shopping centre developer, is moving to consolidate its properties by negotiating to acquire two or three existing shopping centres in Bangkok.
One of the properties under negotiation is the World Trade Centre in Bangkok, according to a market source.
However, Naris Cheyklin, the developer's senior vice-president for finance and accounting, declined to confirm or deny the suggestion.
He also refused to disclose the other properties, but said that deals with the negotiating parties could be made over the next three to six months.
The company was setting aside 2.5 billion baht for the acquisitions, with 1.5 billion baht drawn from cash in hand and one billion baht expected from business next year.
"We are negotiating to get the best deal and we may need a partner to jointly acquire the new complexes," Mr Naris said.
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