Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Event-Driven

7 Feb 2016, it was announced that TCC Group agreed to buy Casino's 58.56% stake in Big C for  €3.1 billion (252.88 THB / share), an 11 percent premium to Big C's pre-announcement price.The Key Terms of the DMA are as follows:<ul><li>The purchase price will be paid by the TCC Group in Euros at the exchange rate of 39.77 THB for one Euro</li><li>The price per Big C share is cum dividend and will be reduced by the amount of any dividends received or to be received by Casino Group before closing</li><li>In case the price of the mandatory tender offer that the TCC Group is required to launch following this transaction is higher, a corresponding price complement will paid to Casino Group</li><li>The transaction is not subject to any condition precedent</li><li>The definitive agreement provides a closing dates by 31 March 2016 at the latest; and</li><li>Without prejudice to its obligation to purchase, TCC Group agreed to pay a USD 600 million fee if the transaction is not closed on 31 March 2016</li></ul>There is a ~2% spread on the deal, we dig deeper into mandatory offer requirements in Thailand and examine the possibility of a higher mandatory offer price and estimated the payment date when the mandatory offer commences.

7 Feb 2016, it was announced that TCC Group agreed to buy Casino's 58.56% stake in Big C for  €3.1 billion (252.88 THB / share), an 11 percent premium to Big C's pre-announcement price.The Key Terms of the DMA are as follows:The purchase price will be paid by the TCC Group in Euros at the exchange rate of 39.77 THB for one EuroThe price per Big C share is cum dividend and will be reduced by the amount of any dividends received or to be received by Casino Group before closingIn case the price of the mandatory tender offer that the TCC Group is required to launch following this transaction is higher, a corresponding price complement will paid to Casino GroupThe transaction is not subject to any condition precedentThe definitive agreement provides a closing dates by 31 March 2016 at the latest; andWithout prejudice to its obligation to purchase, TCC Group agreed to pay a USD 600 million fee if the transaction is not closed on 31 March 2016There is a ~2% spread on the deal, we dig deeper into mandatory offer requirements in Thailand and examine the possibility of a higher mandatory offer price and estimated the payment date when the mandatory offer commences.

Big C Stake Sale - TCC Group Consolidates Their Position in Thailand

Thailand

CP ALL PCL operates convenience store chains in Thailand and China.  The Company also owns and operates the a department store chain located primarily in Shanghai city and Chonqing city of China.

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CP ALL PCL (CPALL TB)

Big C Stake Sale - TCC Group Consolidates Their Position in Thailand

7 Feb 2016, it was announced that TCC Group agreed to buy Casino's 58.56% stake in Big C for €3.1 billion (252.88 THB / share), an 11 percent...

Crispin Francis

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Market Cap (USDm)

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