Siam Global’s international arm invests in Indonesian company

The international unit of Thai home improvement chain Siam Global House Public Co Ltd has acquired 22 per cent of a recently listed Indonesian building materials retailer. Siam Global disclosed that Global House International, its joint venture with Siam Cement Group, bought its stake in Indonesia’s PT Caturkada Depo Bangunan Tbk in two tranches.

The initial 12.75 per cent stake amounting to THB 981 mio (Thai baht, EUR 26.12 mio) was bought on 25 November 2021, when Depo Bangunan made its stock market debut. A second tranche for a 9.25 per cent interest amounting to THB 713 mio (EUR 19.03 mio) was closed 4 February 2022. “This investment will support Siam Global’s strategic expansion of retail business in Southeast Asia,” the company told the Thai bourse.

Global House International already has a subsidiary in Cambodia and holds an interest in Myanmar’s Pro1 Global Home Center. It also has a 33 per cent stake in Laotian listed company Souvanny, making Indonesia the fifth Southeast Asian market for Siam Global.

Depo Bangunan sells building materials, hardware, construction, decorative, renovation, and garden products under its eponymous brand. It has nine outlets in Indonesia.