Caught in the crossfire: bidding war edges out small shareholders

Article Abstract:

Small shareholders of Goldman Sachs and Royal Garden Resorts are at the mercy of larger shareholders' decisions on acquiring controllership of the Radajamri Hotel in Thailand. Goldman has offered to purchase each Radajamri share for 38 baht. Meanwhile, majority shareholder Royal Garden Resorts has agreed to purchase an additional 32% of shares of the hotel at 27 baht from Mitsubishi Trust and Banking, creditor of nominee companies Ransway and Rantack. The Rajadamri-owned hotel, Regent Hotel, has outstanding financial performance, even during the country's economic downturns.

Asset sales & divestitures, Financial services industry, Financial services, Hospitality industry, Rajadamri Hotel

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Battle intensifies for hotel

Article Abstract:

Rivalry between Goldman Sachs (Asia) LLC and Royal Garden Resorts escalated recently, as both decided to increase their bids for Rajadamri Hotel PCL. Top officials at Goldman Sachs announced willingness to offer $1.29 per share of its 20% stake and 39 baht to 48 baht for succeeding holdings in the hotel. On the other hand, Royal Garden, owner of 25.07% of Rajadamri, raised its bid to 43 baht per share. The rivalry reflects Thailand's ever expanding tourism industry.

United States, Investments, Securities, Rajadamri Hotel Plc

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