Minor International Public Company Limited (SET: MINT) has informed the Stock Exchange of Thailand that Minor Food Group Pcl (MFG), a 99.73% subsidiary of MINT, has entered into a share purchase agreement to acquire additional stake in GAGA Beverages (Thailand) Co., Ltd.
On June 26, MFG acquired an additional 19.9% stake of GAGA Beverages (Thailand) Co., Ltd. (GAGA) from HuangXie Enterprise Co., Ltd. (HuangXie), as such MFG increases its stake in GAGA from 50.1% to 70%. The total value of the transaction was THB 92.5 million, using the company’s net working capital.
MFG stated that the investment purpose was to increase its stake to deepen strategic integration, enhance share of future profits, and reaffirm the company’s long-term commitment to GAGA’s growth.
After the aforementioned share acquisition, GAGA is now a subsidiary of MINT.
