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Thai developer Natural Park says City Realty deal is for mutual benefit.

Bangkok Post (Bangkok, Thailand)

| December 03, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Ploy Chitsomboon

Dec. 3--The share swap between Natural Park and City Realty is aimed at creating a new business alliance for mutual benefit, according to Sermsin Samalapa, managing director of Natural Park Plc.

He said each company would hold 50 percent of the other, with each playing a particular role in the alliance. He also denied that the transaction was a takeover by City Realty of N-Park.

N-Park stunned the market on Tuesday with the announcement that it would issue 9.6 billion new shares to raise capital to 176.5 billion baht from 80.67 billion. Some 7.6 billion new shares would be swapped for 135.9 million shares of City Realty, ...

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