Thailand's TCC Said to Get $6.2 Billion Loan for Big C Takeover

  • Plans to buy controlling stake from Casino Guichard-Perrachon
  • Thai conglomerate has made tender offer for remaining shares

TCC Holding Co. has obtained bridge loans totaling $6.2 billion to fund its acquisition of Thai supermarket chain Big C Supercenter Pcl, according to people familiar with the matter.

Berli Jucker Pcl, a subsidiary of Bangkok-based conglomerate TCC, will be the borrower for the two one-year facilities, said the people, who asked not to be identified because the details are private. The $6.2 financing includes a 3.2 billion euro loan ($3.6 billion) and a 90 billion Thai baht ($2.6 billion) facility, the people said. Nine banks have participated in the euro tranche while seven lenders joined the Thai baht tranche, they said.

TCC, controlled by Thai billionaire Charoen Sirivadhanabhakdi, last month agreed to purchase for 3.1 billion euros the 58.6 percent stake in Bangkok-listed Big C owned by French retailer Casino Guichard-Perrachon SA. The euro tranche will back the 58.6 percent stake purchase while the Thai baht tranche will finance Berli Jucker’s takeover of the remaining 41.4 percent shares in Big C, the people said.

The acquisition price for the remaining shares won’t exceed 86.5 billion baht, according to a Berli Jucker statement on March 4. Two calls to Berli Jucker’s public relations department seeking comment went unanswered, and two calls to TCC Holding’s general number also weren’t answered.

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