Thailand's Ratanarak Group buys out Jardine Cycle's Siam City stake for $354 mln

Jardine Cycle & Carriage

19/08/2024 06:54

Aug 19 (Reuters) - The Ratanarak Group, which operates
Thailand's Siam City Cement  SCCC.BK , has lifted its stake in
the manufacturing company by buying out Singapore-based Jardine
Cycle & Carriage's  JCYC.SI  25.54% stake for 12.18 billion baht
($353.97 million). 
    Siam City Cement in a statement on Monday said its
controlling shareholder, Sunrise Equity, which is part of the
Ratanarak Group, has raised its shareholding in the firm to
71.88% after executing the deal.

($1 = 34.4100 baht)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by
Mrigank Dhaniwala)
 ((Rishav.Chatterjee@thomsonreuters.com;))