The risk appetite of Thai companies has changed dramatically since the Asian financial crisis in 1997, when the need to survive in dire conditions trumped expansion. Now that companies have got their balance sheets in order and are supported by strong economic growth, many are looking for cheap assets arising from the eurozone debt crisis.
In 2010, Thai Union Frozen, Thailand’s largest canned and frozen seafood producer, acquired MW Brands, a French canned seafood business, for $833 million; in July 2012, state owned PTT Exploration and Production beat Royal Dutch Shell for natural-gas explorer Cove Energy for $1.9
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