Bound and Beyond Public Company Limited (SET: BEYOND) announced on Tuesday that it has completed its acquisition of Urban Resort Hotel Company Limited (URH) and Waterfront Hotel Company Limited (WFH), bringing the Company’s total ownership in both firms to 100 percent.
BEYOND’s Extraordinary General Meeting of Shareholders held on September 23, 2021 has approved the additional acquisition of ordinary shares of URH and WFH in the amounts of 173,950,000 shares and 95,550,000 shares, respectively, representing 49.00 percent of the paid-up capital of URH and WFH from Landmark Holdings Company Limited, who is deemed as a connected person.
The acquisition price is at THB10 per share (par value of THB10 per share), resulting in a total investment value of THB2,695.00 million. After the additional acquisition, BEYOND will hold 100.00 percent of URH and WFH and will obtain complete control of both companies. URH and WFH hold the rights to use assets, land and related rights of the Four Seasons Hotel Bangkok at Chao Phraya River and the Capella Bangkok, respectively.