The game changers
News about whisky tycoon Charoen Sirivadhanabhakdi never disappeared from the Thai media throughout last year. He was very active in buying businesses in thailand and overseas.
FN is unlikely the last on Mr Charoen's shopping list abroad.
Mr Charoen, one of the country's richest men, aims to expand his business in Asia, and acquisitions are viewed as a short cut for him to achieve his ambitious goals.
Dubbed the "king of takeovers", his major deal involved Fraser and Neave (FN), the beverage and property conglomerate in Singapore.
However, it is an unfinished deal, as his bid to take control of the 129-year-old company is facing fierce competition from Indonesian rival Overseas Union Enterprise (OUE).
Mr Charoen bought a 20% stake in FN in mid-2012 and gradually obtained up to 34%. He made an offer to buy more FN shares at S$8.88 each for US$7.3 billion, while OUE is proposing a higher offer at S$9.08 per share.
OUE has Kirin Holdings, the second-largest shareholder in FN with 14.8%, as its partner in the deal. This game will not end easily and investors believe both sides are playing a long game.
At home, Mr Charoen, 68, is said to love collecting land and properties at good prices in Bangkok and major provinces. Last year, he bought the prime plot of Werng Nakhon Kasem near Bangkok's Chinatown for 4.5 billion baht.
Residents in the century-old community wants him to conserve the area's heritage, but he may turn it into a lifestyle retail development similar to Asiatique The Riverfront on Charoen Krung Road.
However, Mr Charoen listened to residents' views and both sides will discuss the concept again in the coming months.
His sons, who are major shareholders in Univentures, have acquired a 50% stake in Golden Land Property Development Plc.
The purchase would help expand Mr Charoen's property empire because the developer has several high-end projects including serviced apartments and hotels.
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Article source: http://www.thethailandlinks.com/2013/01/01/charoen-enjoys-the-spotlight/
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