AdVance Info Services Public Company Limited (AIS), a leading telecommunications company, has announced to the stock market that its subsidiary, AdVance Wireless Network Co., Ltd. (AWN), has acquired shares of Triple T Broadband Public Company Limited (TTTBB), the provider of 3BB internet service. Meanwhile, AIS, the parent company, has invested in the JASIF Infrastructure Fund managed by Broadband Infrastructure Group, completing the transaction on November 15, 2023.
As a result of these share purchases and investments, TTTBB now becomes a subsidiary of AWN, and AIS holds a 19.00% stake in the JASIF Fund, with a total transaction value of 28,371 million baht. This represents a decrease from the initial offer value of 32,420 million baht, attributed to changes in asset valuation during the due diligence process and the distribution of JASIF’s dividends after the share purchase announcement.
TLDR: AIS has reported that its subsidiary, AWN, has acquired shares of TTTBB while AIS itself has invested in the JASIF Infrastructure Fund. These transactions result in TTTBB becoming a subsidiary of AWN, with AIS holding a 19.00% stake in JASIF. The total transaction value is 28,371 million baht, reflecting changes in asset valuation and dividends distribution.