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Mergers & Acquisitions

Mergers & Acquisitions

  • A voluntary tender offer by Thai President Foods Public Company Limited for the entire securities in President Bakery with a total value of over Baht 9,000 million (August 2018)

  • Advising Asvatanakul Family in connection with their exit of more than 30-year joint venture in Thailand with Japanese’s largest pharmaceutical company, Takeda Pharmaceutical Company Limited, by way of an entire business transfer and sale and purchase of shares from both sides with a total value of approximately Baht 720.7 million (April 2018)

  • Acquisition by Golden Lime Public Company Limited, a leading manufacturer and distributor of lime and calcium carbonate listed on the SET, of the entire equity interest in Thailand’s fourth largest lime company, namely Saraburi Quicklime Co., Ltd., with a total value of Baht 320 million (March 2018)

  • Acquisition by Principle Capital Public Company Limited of hospital businesses of (i) Alliance Medical Asia Company Limited’s group companies through an acquisition of its entire equity interest with a total value of Baht 2,000 million (November 2017); and (ii) Thai Health Maintenance Organization Co., Ltd. by way of a business transfer with a total value of Baht 900 million (February 2018)

  • Acquisition by Power Solution Technologies of approximately 51% equity interest in Biggas Technology Co., Ltd. and the issue and offering of its new shares by way of a private placement for the purpose of funding the acquisition (December 2017)

  • Acquisition by CITIC Capital and Humanwell Healthcare of Thailand’s sexual wellness business  of Ansell Limited and related financing (September 2017)

  • Divestiture by Korphaibool Family to Siam Magi Co., Ltd. (a subsidiary of Hitachi Chemical Company, Ltd.) of approximately 43.9% of the total issued shares of Thai Storage Battery Public Company Limited, a leading manufacturer and distributor of automotive and motorcycle batteries under the “3K” brand with the total value of approximately Baht 2,414 million (September 2017)

  • Equity injection and secured debt financing into two subsidiaries of Pace Development Corporation Public Company Limited in connection with the development and completion of the MahaNakhon Tower and an adjacent retail building by Apollo Asia Sprint Holding Company Limited and Goldman Sachs Investments Holdings (Asia) Limited in an aggregate amount of approximately Baht 8.4 billion (USD 235 million) (February 2017)

  • Disposition of the entire equity interest in Maesod Clean Energy Company Limited by Thaioil Ethanol Company Limited, a wholly owned subsidiary of Thai Oil Public Company Limited (February 2017)

  • Acquisition by Paolo Medic, a 99.99 per cent-owned subsidiary of Bangkok Dusit Medical Services Public Company Limited (BDMS), a leading private hospital in Thailand, of the entire business of Mayo Polyclinic Co., Ltd., a company operated a private hospital in Bangkok under the name of “Mayo Hospital” for the consideration of approximately Baht 1.4 billion (US$40m) to expand its customer base in the middle-class segment in Bangkok and its vicinity (January 2017)

  • Acquisition by CPRN (Thailand) Limited from Charoen Pokphand Group Co., Ltd. of approximately 50% equity interest of Allianz C.P. General Insurance Public Company Limited with the total value of approximately Baht 872 million. (October 2016)

  • Acquisition by CE Lime (a joint venture company between Carmeuse (an international producer of lime and lime-related products with more than 150 years of experience) and GP Group) of an initial 45% equity interest in Golden Limited Public Company Limited (a leading manufacturer and distributor of lime and calcium carbonate), followed by a tender offer (October 2016)

  • Acquisition by Principal Capital Public Company Limited of real estate development businesses of V Brilliant Group through an acquisition of its entire equity interest in exchange for its new shares by way of private placement (October 2016)

  • Formation of a Joint Venture between a group of shareholders in Villa Market JP and We Retail, a subsidiary of Property Perfect Public Company Limited (May 2016)

  • Acquisition by Banpu Power Public Company Limited (BPP) of an entire equity interest in Thai Solar Consultant Company Limited (May 2016)

  • Acquisition by a subsidiary of Hydoo International Holding Ltd of approximately 36% interest in Hydoo Best Group Co., Ltd. (November 2015)

  • Advising Venture Incorporation Public Company Limited on its backdoor listing and subsequent acquisition of non-performing portfolio management business (November 2015)

  • Divestiture of the Global WorkPlace Solutions Business in Thailand by Johnson Controls Inc. to CBRE, Inc. as part of its global disposition (September 2015)

  • Acquisition by BDMS of the entire business of Muangraj Hospital, Phuket International Hospital, Sanam-Chan Hospital, Ratanavej and Ratanavej Children Hospital (2013, 2014 and 2015)

  • Acquisition by IFEC of the entire equity interest in (1) Wang Karn Ka Rung Roj Co., Ltd., a solar power plant with a production capacity of 1 megawatt located in Khon Kean Province and (2) True Energy Power Lopburi Company Limited, a biomass power plant with a production capacity of 7.5 megawatts located in Lopburi Province (January 2015)

  • Acquisition by Mindo Asia Investments Limited and LeapFrog Thailand Holdings Ltd. of approximately 11% each in Syn Mun Kong Insurance Public Company Limited (December 2014)

  • Acquisition by Lombard and LeapFrog from Royal & Sun Alliance Insurance Plc of approximately 21.75% (approximately 11% by each of Lombard and LeapFrog) of Syn Mun Kong Insurance Public Company Limited through a bidding process and via trading on the Big Lot Board of the Stock Exchange of Thailand (December 2014)

  • Acquisition by BDMS of the entire equity interest in Save Drug Center Company Limited (October 2014)

  • Investment by IFEC, the sole distributor of Konica Minolta in Thailand, for the expansion of its renewable energy business into South East Asia market through a collaboration with Noringo Group of China in the entering into a memorandum of understanding with the Phnom Penh Municipality, the Kingdom of Cambodia, to study and explore the development of waste management and the corresponding electricity generation in Phnom Penh (April 2014)

  • Acquisition by Mindo Asia Investments Limited of 8.5% interest in MC Group Public Company Limited (January 2014)

  • Global demerger of information management business of Brambles Industries Limited (December 2013)

  • Disposition by GE Capital of its entire interest in Bank of Ayudhya to The Bank of Tokyo Mitsubishi UFJ, Ltd. via a voluntary tender offer, the total value of which is believed to be the largest ever of M&A transactions concerning Thai companies (December 2013)

  • Acquisition by of TOA Corporation Co., Ltd. of the business of Thaimart Store Company Limited (November 2013)

  • Formation of a Joint Venture between A. Schulman Inc. and SCG Chemicals Company Limited (November 2013)

  • Acquisition by First Pacific Group of approximately 29.45% interest in Don Muang Tollway Public Company Limited (November 2013)

  • Investment in Kaset Thai International Sugar Corporation Public Company Limited by Sumitomo Corporation (October 2013)

  • Mergers between BlueScope Steel Limited and Nippon Steel Corporation as regards BlueScope Steel’s operation in Thailand and a business spin off (October 2013)

  • Business Consolidation of UOB Asset Management (Thai) Co., Ltd. and ING Funds (Thailand) Co., Ltd. (October 2013)

  • Acquisitions by IFEC of entire equity interest in Green Energy Technology Co., Ltd., a company operating a VSPP solar power plant in Prachuapkhirikhan (August 2013)

  • Backdoor Listing of OfficeMate Public Company Limited as a result of the mergers amongst OfficeMate Public Company Limited, Office Club (Thai) Co., Ltd. and B2S Co., Ltd. (December 2012)

  • Acquisition of Hesco Food Industry Company Limited by Singha Corporation Company Limited (September 2012)

  • Acquisition by IRPC Public Company Limited of approximately 25% interest in UBE Chemicals (Asia) Public Company Limited, a leading petrochemical company engaging in caprolactam and nylon 6 related businesses (July 2012)

  • Acquisition by Globex Corporation Limited and Victor Investment Holdings Pte. Ltd. of the majority interest in Christiani & Nielsen (November 2011)

  • Acquisition of 70% Interest in Toys “R” Us Business by Toys “R” Us, Inc. (Completion for Thailand jurisdiction took place on 31 October 2011)

  • Acquisition of 48.90% interest in BFIT Securities Public Company Limited by OSK Group (April 2011)

  • Disposition by BNP Paribas of its entire interest in Cetelem Thailand to TK Public Company Limited (April 2011)

  • Disposition by Thailand Equity Fund (which is co-invested by Lombard) of 23.33% interest in S. Pack & Print Public Company Limited (March 2011)

  • Business Cooperation between Navanakorn Electric Company Limited, Navanakorn Land Development Company Limited and Toyo-Thai Corporation Public Company Limited for a development of the Power Plant Project near Navanakorn Industrial Estate (January 2011)

  • Acquisition by The Ayudhya Insurance Public Company Limited of the entire interest in BT Insurance Company Limited (November 2010)

  • Advising a joint venture partner of Berli Jucker Public Company Limited for its logistic, trading and distribution related businesses in Vietnam (September 2010)

  • Advising GFPT Public Company Limited on its disposal of certain assets to McKeyFood Services (Thailand) Company Limited (September 2010)

  • Proposed acquisition and Business Integration of Ayudha Insurance Public Company Limited and BT Insurance Company Limited (March 2010)

  • Disposal by BlueScope Steel Limited of its 25,000,000 shares in BlueScope Steel (January 2010)

  • Merger of Ayudhya Fund Management and PrimaVest Asset Management (September 2009)

  • Joint Venture between GFPT Public Company Limited and Nichirei Foods Inc. (November 2008)

  • Disposal by the Financial Institutions Development Fund (FIDF) to CIMB Group of approximately 42% interest in BankThai Public Company Limited through a bidding process (November 2008)

  • Acquisition by Vanachai Group Public Company Limited of the Saraburi plant of Thai Plywood Co., Ltd. (July 2008)

  • Disposal by Siam Makro Public Company Limited of 100% interest in Makro Office Centre Co., Ltd. to Office Club (Thai) Co., Ltd., a Central Group company (June 2008)

  • Acquisition by Allianz SE of 16% interest in Ayudhya Insurance Public Company Limited (February 2006 and March 2007)

  • Disposal by BNP Paribas of 100% interest in BNP Paribas Peregrine Securities (Thailand) Ltd. through a bidding process (April 2006)

  • Acquisition of 32.40% interest and disposal of 12.40% interest by GMM Media Public Company Limited in Matichon Public Company Limited (September 2005)

  • Acquisition of 23.60% interest by GMM Media Public Company Limited in Post Publishing Public Company Limited (September 2005)

  • Disposition of approximately 83.5 per cent interest in Berli Jucker Public Company Limited by FPC and its subsidiaries and affiliates (November 2001)

  • Acquisition by Allianz and its designees of a 47% stake in Ayudhya CMG Life Assurance Company Limited, Thailand’s third largest life insurance company (September 2001)

  • Acquisition by Singapore Telecom of approximately 20% interest in Advance Info Services (AIS) (April 2000)

  • Acquisition by Groupe Casino of a substantial shareholding in Big C Supercenter Public Company Limited (April 1999)

  • Acquisition by Merrill Lynch of a majority interest in Phatra Securities (July 1998)

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