[ET Net News Agency, 24 April 2018] Kerry Logistics Network (00636) said its deemed
subsidiary agreed to sell 17% equity interest in Kerry Express (Thailand) Limited.
Gather Excellence Limited and Siam Chao Phraya Express Limited will sell 6% equity
interest in Kerry Express (Thailand) Limited. The total consideration payable by the
purchaser VGI Global Media Public Company Limited shall be THB5,901 million (equivalent to
about HK$1,475 million), upon which THB4,361 million (equivalent to about HK$1,090
million) will be received by Kerry Logistics Network's subsidiary.
The target company is a limited liability company duly established and validly existing
under the laws of Thailand. It is principally engaged in the business of domestic express
delivery services in Thailand. The purchaser is a public limited liability company duly
established and validly existing under the laws of Thailand where its shares are publicly
traded on the Stock Exchange of Thailand. It is the largest out-of-home media company and
has an exclusive distribution network across Bangkok's mass transit network, premier
office buildings and condominiums. It is a subsidiary of Bangkok Mass Transit System
Public Company Limited which has been operating The Bangkok Mass Transit System (BTS
Skytrain) since 1990s. (HL)