King Power, the Thai duty-free conglomerate and owners of City football club in the UK, confirmed yesterday that it had bought a $225 million stake in Thai Air Asia. Thai Air Asia is 55% owned by Asia Aviation, a Thai company, while the rest is owned by Tony Fernandes’ Air Asia group. King Power has purchased 39% of Asia Aviation from its CEO Tassapon Bijleveld for 7.945 billion baht, making it the second largest shareholder in Thai Air Asia. Bijleveld will keep 5% of the shares and stay on as CEO, King Power said in its statement, with the rest
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