Thai-listed steel supplier Max Metal Corporation Pcl has acquired stakes in a renewable energy operation and a Hua Hin golf course for a consideration of 450 million THB.
MAX’s director Itthichai Arungsrisangchai said, the acquisitions are in line with the company’s policy to diversify into other businesses, which can generate income and profit. MAX will fund these acquisitions by using the remaining from the capital increase amount of 839 million THB, he added. The company will spend 260 million THB to acquire 80 percent of The Majestic Creek Country Club’s common shares from Hua Hin Pattana Co Ltd at 12.50 baht per share. The Majestic Creek Country Club operates a 27-holes golf course, 25 minutes driving from the centre of Hua Hin. dealstreetasia.com