OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd., a subsidiary of Mitsubishi UFJ Financial Group, Inc., announced the successful completion of a Voluntary Tender Offer (VTO) for Bank of Ayudhya Public Company Limited (Krungsri) shares at THB39 per share. The VTO commenced on November 7, 2013 and ended on December 13, 2013. The results of the VTO are detailed below.

(1) Shares purchased
The percentage of the shares purchased by BTMU out of Krungsri's total outstanding shares: approximately 72.01% (4,373,714,120 shares) (including approximately 25.33% (1,538,365,000 shares) of Krungsri's total outstanding shares sold by GE Capital International Holdings Corporation)
(2) Funds used in the VTO
Approximately THB170.6 billion (approximately JPY536.0 billion, calculated based on the currency exchange rate of THB1= JPY3.142)
(3) Completion date of the cash settlement - December 18, 2013
(4) Status of Krungsri under the MUFG and BTMU group
As a result of the acquisition of a majority stake in Krungsri by BTMU, Krungsri has become a subsidiary of BTMU, which is the wholly-owned subsidiary of MUFG.
(5) Prospects following the VTO
Pursuant to a Conditional Branch Purchase Agreement (BPA) signed with Krungsri on September 18, 2013, BTMU will integrate BTMU's Bangkok Branch with Krungsri through the contribution in kind of the BTMU Bangkok Branch business to Krungsri within one year from the date of the acquisition of Krungsri shares through the VTO. In exchange for the contribution in kind, Krungsri will issue 1,143,221,782 common shares to BTMU, and BTMU's ownership in Krungsri is expected to be 76.44% after the integration. However, an effective date of the integration is subject to change in accordance with an agreement between the parties and regulatory approval, and the number of shares to be issued by Krungsri is subject to change in accordance with the price adjustment clause with a maximum of 1,500,000,000 shares under the BPA.

Krungsri is currently listed on the Stock Exchange of Thailand and will remain listed after the VTO.