LONDON (Alliance News) - All Asia Asset Capital Limited Thursday said its subsidiary has acquired a minority stake in Myanmar Allure Group Co. Ltd., a privately held hospitality and entertainment company based in Thailand.
The Southeast Asia-focused investment company said that in return for a 7% stake in the company, All Asia Asset Capital will pay USD2.0 million in cash on completion of the acquisition.
Myanmar Allure Group owns and operates the Allure hotel resort and gaming facility area, an 11-acre plot on the Thailand-Myanmar Mae Sai border.
All Asia Asset Capital shares were up 11% to 20.00 pence, putting it in the top ten AIM movers Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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