Nation Group (Thailand) Public Company Limited (SET:NATION) agreed to acquire Thansettakij Multimedia Company Limited from News Network Corporation Public Company Limited (SET:NEWS) for THB 240 million on November 22, 2022. Nation Group will finance the acquisition from its own cash flows from the issuance of newly issued ordinary shares and/or obtain loans from financial institutions. The parties are expected to into an agreement after shareholders approval.

For the year ended December 31, 2021, Thansettakij Multimedia Company reported total assets of THB 275 million, Total common equity of THB 135 million, total revenues of THB 94.51 million and Net profit of THB 4.7 million. Transaction is subject to Nation group and News network board and shareholders approval and other conditions precedents. News Network and Nation Group boards has resolved to approve the acquisition.

Transaction is expected to be completed within December 2022. Finnex Advisory Company Limited provided the fairness opinion to Nation Group (Thailand) Public Company. Silom Advisory Company Limited provided the fairness opinion to News Network Corporation Public Company.

As of December 13, 2022, Silom Advisory Company and Finnex Advisory Company Limited opines that the shareholders should approve the acquisition of Shares in TMM.