Select a page

Banking News

Merrill sells out in Thailand

Merrill sells out in Thailand

(Thailand) – Merrill Lynch and Co will sell its 51 percent stake in its Thai unit, Merrill Lynch Phatra Securities, to the local management for as much as 1.5 billion baht (US$35.1 million), according to the company’s Chief Executive. Suvit Mapaisansin, Chief of Merrill Lynch Phatra, said he and several other senior executives would purchase the company, with the deal to be completed in "four to six months."

Another of the buyers is believed to be Viroj Nualkhair, President of Krung Thai Bank.

Merrill Lynch bought its stake in the company for around US$45 million in 1998.

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.