Gulf Development Pcl, controlled by Thailand’s richest man Sarath Ratanavadi, has doubled its stake in Kasikornbank Pcl to become the commercial lender’s largest shareholder.
After Beijing slammed them shut about a decade ago, the gates have flung open again for Chinese firms to go on overseas acquisition sprees.
Gas-fired power plants, once unloved bets, are now a hot trade for private equity.
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