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Siam Makro Surges on $7 Billion Deal to Control Lotus Stores - Bloomberg

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Siam Makro Pcl surged as much as 24% after Thailand’s biggest operator of cash-and-carry stores announced a plan worth about 218 billion baht ($7 billion) to take control of retailer Lotus from other affiliates of the Charoen Pokphand Group. 

The share-price gain was the biggest since August 2013, with the deal leading to Siam Makro taking a 76% stake in the Lotus chain in Thailand, which has about 2,000 outlets, and Malaysia, with a much smaller footprint. Lotus runs outlets ranging from grocery stores, hypermarkets and convenience shops.  

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Siam Makro Surges on $7 Billion Deal to Control Lotus Stores - Bloomberg
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