Central Plaza Hotel Public Company Limited (SET: CENTEL) announced on Tuesday that it has concluded negotiations to acquire The Food Selection Group Co., Ltd. (TFSG), the operator of Shinkanzen and Senma Sushi Japanese restaurants.
CENTEL through its subsidiary Central Restaurants Group Co., Ltd. (CRG) has entered into an agreement to purchase 219,400 TFSG ordinary shares from S&M Asset Co., Ltd., one of existing shareholders and to subscribe for 188,600 newly issued shares with the total investment cost of about THB520 million. With this investment, CRG will have about 51% interest in TFSG.
TFSG operated the Japanese restaurant named Shinkanzen and Senma Sushi. Currently, there are 38 Shinkanzen Sushi and Senma Sushi restaurants.