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ThaiBev-Frasers joint venture to pay $75.97m share subscription to BetterBe

Must Be Company settled 30%, or $22.8m, on 31 May.

Must Be Company, a joint-venture company of Thai Beverage Company Ltd (ThaiBev), through its subsidiaries, and Frasers Property Holdings (Thailand) Co Ltd, agreed to pay a share subscription of THB1.95b ($75.97m) to BetterBe Marketplace Co Ltd's (BetterBe).

The share subscription payment allowed the joint venture company to own 50% of BetterBe's stake.

In an SGX filing, Must Be Company paid 30% of the share subscription, or THB585.9m ($22.8m), on 31 May.

READ MORE: ThaiBev and Frasers Property establishes a joint venture firm in Thailand

The joint venture company will settle the remaining 70%, or THB1.38b ($53.3m), in tranches, with the last payment expected on or around 31 May 2024. 

The filing also stated that SCG Marketplace Holding Company Limited, an indirect wholly-owned subsidiary of The Siam Cement Public Co Ltd, held the other half of BetterBe's shares.

BetterBe has capital worth THB3.91b consisting of 156,240,000 ordinary shares with a par value of THB25.

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