Siam Commercial Bank Pcl sells stake in Siam Cement Pcl

Siam Commercial Bank Pcl sells stake in Siam Cement Pcl
25 September 2015


Siam Commercial Bank Pcl said on Thursday it sold its stake in Siam Cement Pcl to raise THB4.47bn (US$123.17m) funds to cover provisions for loans to struggling steel firm Sahayiriya Steel Industries.

The Siam Cement shares were sold to the Crown Property Bureau which is already a major shareholder in Thailand's biggest cement firm, the bank's chief executive Arthid Nanthawithaya told Reuters.

"We sold all our holding in Siam Cement to the Crown Property Bureau," he said.

Published under Cement News

Tagged Under: Thailand Siam Cement Pcl