Thursday, October 13, 2005

Takeovers: Thai company buys LPG distributor in Bangladesh

Thailand's Picnic Corp, has invested $1 million to acquire 90 percent stake in the Summit Surma Petroleum Co Ltd. Picnic Corp., is a distributor of cooking gas and plans to expand its LPG distribution in the region.

Earlier, the Stock Exchange of Thailand halted trading of Picnic shares asking the company to officially inform them about the investment.