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Thailand's Central Group in talks on 4-5 acquisitions
February 5, 2013 / 5:55 AM / 5 years ago

Thailand's Central Group in talks on 4-5 acquisitions

BANGKOK, Feb 5 (Reuters) - Thailand’s top retailer, unlisted Central Group, said on Tuesday it was in talks to buy four or five assets worldwide including a department store in Indonesia.

Tos Chirathivat, chief executive of Central Retail Corp, speaking to reporters, declined to name the Indonesian store involved.

Sources have told Reuters that a unit of Central Group was among potential bidders for PT Matahari Department Store .

Central Group said it planned to invest 38 billion baht ($1.28 billion) this year and set aside another 10 billion baht for new acqusitions.

Central Group is majority owned by the Chirathivat family, the country’s second-richest family, according to a ranking by Forbes Magazine in 2012.

It has interests in several retail businesses, including the country’s top store operator, Central Pattana Pcl, and Central Hotel Plaza, a hotel and fast-food chain operator. ($1 = 29.76 baht) (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould)

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