HoonSmart.com >> Green light “Ananda Development Board” (ANAN) to sell the business “ADC-JV 28”, subsidiary worth 2,611 million baht to GREEN ZONE DEVELOPMENT Expected profit 506 million baht, prepare to use the money for working capital
Ananda Development Company (ANAN) revealed that the Company’s Board of Directors meeting on December 14, 2022 decided to approve the Company. Selling the business of ADC-JV 28 Co., Ltd., a subsidiary company, which includes all shares, assets and liabilities, to GREEN ZONE DEVELOPMENT LIMITED which is not affiliated or related to the Company. The total value of the business sold is 2,611 million baht, which will enter into an agreement on December 23, 2022 and transfer shares and assets on December 30, 2022.
This business sale, GREEN ZONE DEVELOPMENT LIMITED will be paid in two installments, with the first installment being 60.57% of the total value and the second installment being 39.33% of the total value. Within 18 months after the transaction
The company expects to gain profits from the sale of a subsidiary in the amount of 506 million baht, with plans to use the money as working capital within the business.
