Asia-Thaksin union creates opposition to the privatisation deal

Bip acquired about 5% of the common stock in the name of an investment consultancy or an investment consulting client. "We reaffirm our opposition to the current pending BIP privatisation deal," the statement said today. Institutional Shareholder Services, a former shareholder consultancy, has advised shareholders to vote against the 12-dollar deal, and we support that stance. Because we believe that such an offer is not enough to reflect the true value of the company. Moreover, the proposed side of the privatization deal is also associated with the Asia-Thaksin alliance, so we believe the privatization process is flawed. The deal would require the support of most independent shareholders in order to obtain approval. ”

The two sides have signed a final privatisation agreement, Citic Capital Partners announced May 12 this year. Under the agreement, the shares of the company's shareholders can be exchanged for $12 in cash per share, at a value of 890 million US dollars. A premium of 52% per cent over the closing price of January 11, 2012 (The last trading day of the letter of Credit Union's proposal to privatize Citic Capital) is 53% higher than the weighted average closing price of the 30 trading days up to January 11.

The joint Venture Board has approved the merger agreement and has suggested that it be voted on by the Asia-letter shareholder. December 19, the Asian Union will convene a special shareholder meeting to vote on the merger deal. After the deal is completed, the company will become a private enterprise whose common stock will be returned from Nasdaq.