Charoen Pokhpand Group Co's US$9.4 billion purchase of a stake in China's Ping An Insurance Co puts Thai companies and their billionaire owners among the ranks of Asia's biggest overseas acquirers.
The record $25 billion of Thai purchases abroad announced so far in 2012 is more than in the previous 12 years combined and behind only Japan and China in the Asia-Pacific region, data compiled by Bloomberg show.
Thai companies, recovering from last year’s floods, are starting to deploy the cash they have built up since the country became a flashpoint for Asia's financial crisis 15 years ago. With billionaire Charoen Sirivadhanabhakdi attempting a $11.4 billion takeover of Singapore's Fraser & Neave (FNH) Ltd, Thai acquirers are now involved in two of the four largest cross- border deals by Asian companies this year.
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