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Food & Beverage

Staff Reporter

, Singapore

Published:

2 years ago

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Stock photo.

ThaiBev and Frasers Property establishes a joint venture firm in Thailand

The two firms are currently eyeing an $84.27m investment deal.

Thai Beverage Company Limited, through its subsidiaries Open Innovation Co., Ltd. and Mee Chai Mee Chok Co., Ltd., have entered into a joint venture agreement with Frasers Property Holdings (Thailand) Co., Ltd., and Frasers Property Technology (Thailand) Co., Ltd., to establish Must Be Company Limited in Thailand.

Frasers Property’s two subsidiaries will own a 50% stake in the new company whilst Thai Bev’s subsidiaries will own the remaining 50%.

ALSO READ: ThaiBev revenue climbs 8.2% in past nine months

Must Be Company was established for the purpose of collaboration in the advancement of technology and digitalisation of Frasers and Thai Bev, including investing in third-party technologies and businesses that are complementary to Frasers and Thai Bev.

Currently, Must Be Company is exploring a potential share subscription of approximately $84.27m for a 50% stake in BetterBe Marketplace Co.

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