OSP Acquires 51% of “FE Thailand” to Increase Distribution Channels via Vending Machines

OSP Acquires 51% of “FE Thailand” to Increase Distribution Channels via Vending Machines Worth ฿25 million

Osotspa Public Company Limited (OSP) has announced that Osotspa Enterprise Company Limited (OE), a wholly-owned subsidiary of OSP, has signed share sale and purchase agreement (SPA) for share acquisition of Asia Vending Machine Operation Company Limited (AOC), a company registered under the laws of Thailand operating its business of selling beverages, food and other products through vending machines, with Fuji Furukawa E&C (Thailand) Company Limited (Fuji Furukawa) and Fuji Electric (Thailand) Company Limited (FE Thailand).

Subject to the mentioned SPA, FE Thailand agrees to sell their 255,000 ordinary shares of AOC to OSP representing 51% of shares of all paid-up capital of AOC at the price of THB 100 per share in the total amount of THB 25,500,000 which is the agreed purchase price between OSP and FE Thailand. 

OSP, nonetheless, will pay the purchase price to FE Thailand upon FE Thailand has completely fulfilled its obligations stipulated in the conditions precedent under the SPA. The acquisition of AOC business has been made in accordance with the OSP’s business plan which shall help OSP increases the distribution channels of OSP’s products via vending machines. 

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