By Chalida Ekvitthayavechnukul
DuraFiber is a leading Mexican maker of durable technical textiles for industry, tyre reinforcement and speciality applications that will help IVL enter the auto-parts business.
Some of Thailand’s biggest corporate names including PTT Group, CP ALL and CP Foods are hoarding cash.
GoWabi was launched in mid-2016 by ex-Rocket Internet and Ensogo entrepreneurs
The IPO proceeds will be used for expanding the business domestically and internationally.
ThaiBev agreed to purchase more than 240 existing KFC restaurants in Thailand for about 11.3 billion Thai baht ($340 million).
Both companies will invest $21 million in the JV firm.
Thailand is the fifth overseas market for Ofo.
These include Origin Prime 2, Origin Ramkhamhaeng, Origin Sphere and Origin Vertical.
The Thai company owns 71 per cent through its wholly-owned subsidiaries while PetroVietnam holds the remaining 29 per cent.
This comes barely a day after Petronas scrapped a $29b LNG project in Canada.