Central Pattana Public Company Limited (CPN) announced the acquisition of 50.43 per cent of Gland shares costing Bt10 billion and prepares to table a tender offer for the remaining shares of GLAND at Bt3.1 per share.

CENTRAL PATTANA PLC’S subsidiary CPN Pattaya has signed a memorandum of understanding to acquire all shares of Grand Canal Land (GLAND) at Bt3.10 apiece, totalling Bt20.14 billion, according to the company’s report to the Stock Exchange of Thailand yesterday.