King Power buys stake in Thai Air Asia
Thai duty free giant King Power, owned by billionaire Vichai Srivaddhanaprabha, has bought a US$ 225 million stake in Thai Air Asia, representing 39 percent of the company. It is now the second largest shareholder.
King Power CEO Aiyawatt Srivaddhanaprabha yesterday said the purchase represents new business opportunities, according to an article on The Straits Times website.
King Power also owns British football team Leicester City, which won the Premier League in 2016 for the first time in its 132-year history.