GE Capital Sells 7.6% Stake in Thailand’s Ayudhya
General Electric’s (GE.N) GE Capital said on Wednesday it sold a 7.6 percent stake in Thailand’s Bank of Ayudhya BAY.BK.
GE Capital said in a statement it received “significant interest from investors in the bank,” and continues to review its options for its remaining 25 percent stake in the bank.
The stake was sold to institutional investors, GE Capital added, without disclosing further details on the names of buyers or the value of the deal.
The GE Capital statement confirms an earlier Reuters report on the deal, which raised about $466 million, with the shares sold at 31.3 Thai baht per share.