SINGAPORE (Feb 28): Thai Beverage (ThaiBev) announced that its wholly-owned subsidiary, Thai Beverage Logistics, has acquired from a third party vendor 954,750 ordinary shares in Havi Logistics, representing about 75% stake for 240 million baht ($10.1 million).

Havi Logistics is a Thai-based company that operates logistics businesses for food services with expertise in cold chain logistics and multi-temperature food distribution technology.

Following the completion of the acquisition, Havi Logistics will be an indirect subsidiary of ThaiBev.

The group funded the acquisition through internally generated cash flow.

Shares in ThaiBev closed at 84 cents on Wednesday.