Asia Investment offers $223 mln stake in Thai department store-term sheet

HONG KONG Thu Nov 29, 2012 5:21am EST

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HONG KONG Nov 29 (Reuters) - Asia Investment International has launched a stake selldown of up to $223 million of Thailand's Robinson Department Store Pcl, according to a term sheet seen by Reuters on Thursday.

Asia Investment is offering 111.2 million shares in a range of 59 to 61.50 Thai Baht, an up to 6.7 percent discount to its last traded price.

Bank of America Merrill Lynch, Credit Suisse and Phatra Securities were hired to manage the deal. (Reporting by Stephen Aldred; Editing by Muralikumar Anantharaman)

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