Sky ICT Public Company Limited (SET: SKY) announced that its Board of Directors approved an additional acquisition of newly issued shares in SAL GROUP (THAILAND) CO., LTD. (SAL) at a total price of 67,395,800 baht.
SKY will remain as SAL’s major shareholder at 42.12% after the transaction.
SAL is a holding company that holds 51% of the total shares of AOT Ground Aviation Services Co., Ltd. (AOTGA), which is a joint venture between SAL and Airports of Thailand Public Company Limited (SET: AOT). The company engages in the business of providing aircraft and passenger services at airports that are under the responsibility of AOT.
SKY stated that after the investment in the capital increase, SAL will have funds to increase capital in AOTGA, which will allow AOTGA to have funds to expand the business, which will enable the company to recognize profits from such activities accordingly.
Recently, the Thai cabinet approved AOT, as an operator of major airports in Thailand, to seek another private company for the ground services business at the Suvarnabhumi Airport at a total value of 67 billion baht.
Sources close to the matter stated that AOT, as a partner with SAL in AOTGA, is expected to bid for the project for the groundworks worth 29.3 billion baht this June.