ThaiBev buys 51 percent of US logistics-data player ChyData

Chang Beer, made by Thai BeverageChang Beer, made by Thai Beverage

Thai Beverage‘s wholly owned subsidiary SEA Logistics & Technology has acquired 51 percent of U.S.-based logistics-data player ChyData for US$25.5 million, the Thailand-based beverage maker said in a filing to SGX Monday.

The deal was via a subscription to newly issued shares, the filing said.

Under the deal terms, ChyData is classified as a joint venture of ThaiBev, the filing said.

The remaining 49 percent of ChyData will be held by existing shareholders, who are unrelated to ThaiBev, the filing said.

ThaiBev said it was funding the investment via internally generated funds.