Big Deals in Thailand

CP ALL Public Co. Ltd. (Bangkok), which operates nearly 6000 7-Eleven convenience stores in Thailand, has announced its intention to pay more than $6 billion for Thai discount retailer Siam Makro.

It would be the biggest takeover in Asia this year.

Siam Makro operates 57 membership-club retail outlets around Thailand, as well as a chain of five small frozen food shops, Siam Frozen.

CP ALL is owned by Thai billionaire Dhanin Chearavanont, who earlier this year acquired a 15.6 percent stake in the Ping An Insurance Group of China for $9.4 billion through another company he controls, Charoen Pokphand Group.

And recently, Charoen Sirivadhanabhakdi, billionaire Thai beverage magnate, completed an $11.2 billion buyout  of the Singaporean conglomerate Fraser & Neave.