Signing Ceremony for the Acquisition of Jupiter Hotels in UK Bangkok, 3rd November 2015

3 November 2015

S Hotels and Resorts (UK) Limited, a fully owned subsidiary of Singha Estate Public Company Ltd and Fico Holding (UK) Limited, a part of FICO Group, signed a 50:50 joint venture to form FS JV Co., in the UK. The newly formed Company recently acquired Jupiter Hotels Limited for approximately GBP£155 million (circa Thai Baht 8,598 million) from Patron Capital and its partner, the Royal Bank of Scotland. This acquisition represents a key initiative to underpin the combined ambitions of FS JV Co., to further expansion within the European hospitality market. The Directors of FSJV CO represented by Krit Srichawla, CEO and Founder of FICO Group of Companies; Dr. Chayanin Debhakan, Chairman of the Executive Committee of Singha Estate; Naris Cheyklin, Chief Executive Officer of Singha Estate; Longlom Bunnag, Chief Investment Officer of Singha Estate; and Sanjay Singh, Managing Director of FICO Corporation signed a loan agreement with Krungthai Bank represented by Senior Executive Vice President, Kittiphun Anutarasoti (Head of Wholesale Banking) at a contract signing ceremony held at Hotel Pullman Bangkok Grande Sukhumvit Bangkok. The loan will be used to fund the acquisition of Jupiter Hotels Ltd. Jupiter Hotels owns and manages 26 UK hotels operating under the Mercure brand, with a total of 2,883 rooms. Most of the properties are owned freehold. It also manages a further six hotels for other Owners in UK.