Shinawatra clan sells out to Singapore's Temasek

Prime Minister Thaksin cashes in the family jewels with $1.85 billion sale.
January 23, 2006
The worst kept secret in Thailand was revealed yesterday January 23 with the news that Prime Minister Thaksin Shinawatra's family has sold its entire 49.6% shareholding in Shin Corporation to Singapore's Temasek Holdings and its partners, in a cash offer of $1.85 billion. The rumours had been matched by recent intensity of turnover in the stock, which had spiked until it was finally suspended earlier on Monday.



Various members of the Shinawatra family had owned personal stakes in Shin Corp since the family patriarch's role as prime minister of Thailand meant he could not be the nominal owner of the shareholding.



Temasek will pick up approximately 38% in Shin Corp via its wholly-owned subsidiary Aspen...

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