STARK Corporation Public Company Limited (SET:STARK) entered into memorandum of understanding to acquire 99.99% stake in Adisorn Songkhla Company Limited from Vonnarat Tangkaravakoon, Natdulaporn Kitikornpanich and other shareholders for TBH 1.6 billion on October 8, 2019. Under the terms of transactions, TBH 0.2 billion will be paid within seven days after the signing of a memorandum of understanding for the purchase and the entire business transfer of Pinwheel 2 and remaining TBH 1350 million will be paid in cash at the entire business transfer date in accordance with the terms and conditions of such agreement. Adisorn Songkhla Company's total assest, net income and total common equity are TBH 1899.2 million, TBH 129.5 million and TBH 1899.2 million respectively. The transaction id subjected to shareholder approval, regulatory board approval, due diligence. As of November 29, 2019 the acquisition has been approved by shareholders of STARK Corporation. As of December 25, 2019 the company completed the acquisition of entire business transfer of Pinwheel 2 which is 109,998 ordinary shares. Currently, Pinwheel 2 is in the process of liquidation. The transaction is expected to complete by December 31, 2019. Advisory Company Limited acted as financial advisor in the transaction.