Bangkok Bank PCL, Thailand’s largest commercial bank, is teaming up with France’s Ciments Francais to bid for a stake in TPI Polene PCL Krungthep Turakij newspaper reports, quoting a financial adviser source. Bangkok Bank and Ciments Francais are seeking to acquire a 30 per cent stake, or 249 million shares, in TPI Polene, Thailand’s third-largest cement maker, the paper said.
There are four other groups of bidders for the TPI Polene stake, reportedly including consortia led by Mexico’s Cemex and Switzerland’s Holcim Ltd. Names of bidders are expected to be officially released on August 8, according to the paper.
