Mr. Pakpoom Vallisuta, Chairman of the Quant Group, Thailand’s leading investment banking advisors, has died of COVID-19.

As a financial advisor to the Charoen Pokphand Group on the acquisition of Tesco Lotus Thailand and Malaysia, Mr. Pakpoom was in the UK about four weeks ago, with a team of senior CP management, to negotiate the $US10Bn takeover deal.

It is reported that some of the participants at the meeting subsequently tested positive for COVID-19.

The CP Group has set up a holding company, CP Retail Holding, to handle the acquisition.

Equity in CP Retail Holding is 40% owned by Charoen Pokphand Holding, 40% by CPALL and 20% by CPF.

The management of CP Group today offered their condolences to Mr. Pakpoom’s family and praised him for his talent, recognized expertise and for his contributions to the CP Group.

All members of the CP negotiating team went for tests after they learned that infected people had been at the meeting, but the tests were negative for the virus.  They did, however, self-quarantine for three weeks.

Funeral rites were held today (Monday) at Wat That Thong.