Temasek Holdings to takeover Shin.

Jan 18, 2006
(Thai Press Reports via NewsEdge) The Shinawatra clan will soon sell off its entire stake in Shin Corp to Singapore's Temasek Holdings without any buy-back option, sources familiar with the deal said.
Quoting sources, a report carried by The Nation said the deal will be carried out in the next two weeks.
The takeover is a pure cash deal, not involving a share swap for Temasek's shares in SingTel as earlier reported, said a source who asked not to be named.
A source close to the deal earlier estimated the transaction value at 80 billion baht ($2 billion).
The sources said Prime Minister's Thaksin Shinawatra's family and his in-laws, the Damapong family, who together hold a 49.61% stake in Shin, wanted to “end all connections with the company.”
They quoted Thaksin as saying that the deal would eliminate entirely criticisms about conflicts of interest.
Shin's interests cover a wide range of companies, including AIS, Shin Satellite, iTV, Thai AirAsia and Capital OK.
All executives of Shin and related companies will maintain their positions after the sale and only Thaksin's youngest sister Yingluck, currently AIS president, will have to move out, sources said.
© 2006 Thai Press Reports