Siam Cement sells stake in industrial estate firm

Siam Cement sells stake in industrial estate firm
Published: 01 October 2010

Siam Cement PCL said Friday that it has sold its remaining 75% stake in SIL Industrial Land Co. to Hemaraj Land & Development PCL in a deal worth THB760m (US$25.1m).

The sale comes after its recent divestment of a 25% stake in SIL Industrial, an operator of industrial estates with a total area of 7,100 rai (1,136 hectares) in Saraburi and Rayong provinces, to Hemaraj, the company said in a filing with the Stock Exchange of Thailand.

SIL Industrial said that at the end of 2009, it had assets worth approximately THB1.7bn and liabilities of THB650m.