The Srivaddhanaprabha family, owners of Thai retail firm King Power Duty Free (KPDF), has acquired a total 39% stake in Thai AirAsia's publicly-listed majority shareholder, Asia Aviation (AAV).
A filing with the Thai Stock Exchange (TSE) shows AAV's Tassapon Bijleveld reduced his shareholding from 13% to 5% while his daughter, Pattaree, and wife, Siritorn, disposed of their entire shareholdings of 19% and 13% respectively. As it stands, King Power's founder and CEO, Vichai Srivaddhanaprabha, now owns a 14% stake in AAV followed by Aiyawatt Srivaddhanaprabha with 10%, Voramas and Aroonrung Srivaddhanaprabha each with 5% and Apichet Srivaddhanaprabha, whose stake has grown from 0.82% to 5.82%.
The total transaction is valued at THB7.9 billion (USD225 million) with Aiyawatt and Apichet Srivaddhanaprabha now AAV board members.
AAV owns a 55% stake in Thai AirAsia (FD, Bangkok Don Mueang) with the remaining 45% held by AirAsia Group of Malaysia.
