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Article: Gaysorn makes deal to take over Amarin Plaza.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- March 15, 2007
CopyrightCOPYRIGHT 2007 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mar. 15--Gaysorn Holding Co is acquiring Erawan Ratchprasong, the owner and operator of the Amarin Plaza shopping mall, in a transaction worth 300 million baht.
Gaysorn, a subsidiary of the Gaysorn Group, leased the Amarin Plaza to Erawan Ratchprasong, a unit of the SET-listed Erawan Group, on a 30-year lease in 1985.
Kasama Punyagupta, the president and chief executive of the Erawan Group, said the transaction, expected to be completed by April 30, benefited both parties.
Erawan felt that with only eight years remaining on the lease, "further investment by the Erawan Group to revitalise the [Amarin Plaza] is not financially feasible", he said ...