Of Special Interest
18th September 2012
GE looking to sell Ayudhya stake
General Electric is reported to have hired Morgan Stanley 'to review' the company's 33% holding Bank of Ayudhya. GE has been selling many non-core businesses and analysts had been expected it to sell the stake. The bank purchased a 25% stake in 2007 for ThB22.3bn which was then equivalent to $626m. It later increased this stake to its current level. The current value is comfortably in excess of $2bn.
Timings for the stake sale are not known.