Asia Investment International has sold its entire 10% stake in Thailand’s Robinson Department Store, raising Bt6.73 billion $219 million. The price was fixed just above the mid-point of the indicative range.
The private equity firm first invested in Robinson in 2009 and monetised its remaining investment in the company through this transaction, a source said.
Asia Investment launched the deal after the Thai market closed on Thursday. The order books closed later that same evening, though the bookrunners waited until Friday morning to go out with pricing and allocation.
Robinson owns and operates a department store chain that targets mid-market customers. As of...
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