Thailand’s King Power Group, the nation’s largest duty free retailer, said it plans to spend 12 billion baht ($340 million) on buying the remaining 60 percent of Asia Aviation Pcl.
King Power’s chairman, billionaire Vichai Srivaddhanaprabha, and his family announced on Monday that they had bought a combined 39.82 percent stake in Asia Aviation for 7.95 billion baht.
Asia Aviation is a major shareholder in Thai Air Asia.
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