January 22, 2015 / 3:06 AM / 3 years ago

Thai subway and tollway firms' merger to be completed in Q3

BANGKOK, Jan 22 (Reuters) - Thai subway operator Bangkok Metro PCL said on Thursday its planned merger with tollway operator Bangkok Expressway PCL will be completed in the third quarter of 2015.

Bangkok Metro’s major shareholder, Ch Karnchang PCL, will support the merger of the two companies, it said in a statement.

Late on Wednesday, the two companies announced a merger which involved a share swap deal to create a new entity with estimated market value of 78.4 billion baht ($2.4 billion).

Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Muralikumar Anantharaman

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