THANATHIP & PARTNERS

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M & A

We provide comprehensive advice and services on private and public takeovers and complex M&A transactions and are regularly in contacts with the Securities and Exchange Commission (SEC), the Stock Exchange of Thailand (SET), and a number of other governmental authorities. The number and variety of deals with which our team have been involved give us a valuable pool of experience to draw from, and help ensure that we stay up-to-date with current structures as they develop in the field of M&A and corporate finance.

We have also advised our clients on merger control requirements and their interplay with various transactions. Not only have we successfully assisted our clients on a number of high profile transactions in complying with merger control requirements, including pre-merger filing and post-merger notification as administered by the Office of the Trade and Competition Commission (OTCC), but we have also worked closely with our clients in identifying anti-competition issues at the early stage of the transactions and forming step plan to secure clearance or complete requisite filings in a timely manner. On cross-border transactions, we have worked alongside leading international law firms in coordinating multijurisdictional filings for our clients.

In addition to global corporations, leading Thai companies, PEs and top investment banks, we are very keen in fostering relationships and being part of an entrepreneurial journey of start-ups and have been heavily in volved in assisting in various stages of a few well renowned start-ups in finance, securities, healthcare, retails and consumer ranging from a pre-formation, to strategic exit.

M&A Experiences

Public Private


 

  • Advised Dentsu group on the internal restructuring of their entire group companies in Thailand by way of entire business transfer, amalgamation and share transfer

  • Advised PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, on its acquisition of the entire global colour and additive masterbatch business of Clariant

  • Advised Solina Coatings UK, a member of Solina Group, on its acquisition of Bowman Ingredients (Thailand) engaging in the manufacture, distribution, and export of food additives, breadcrumbs, and pre-mixed flours for the food production industry

  • Advised Boon Rawd Supply Chain on its partnership with a prominent renewable energy company for the operation of an electric motorbike rental business targeting enterprise and business customers in Thailand

  • Advised ThaiBev in its restructuring of food and non-alcoholic beverages businesses among its group companies by way of share and business transfers

  • Advised on the joint venture between Braincloud (Thailand) and Everlead under the name “BCJX” to offer an eLearning platform

  • Advised Snow Peak Capital on its indirect acquisition of interest in TurbineAero Repair, a Thai subsidiary of TurbineAero, as part of its global acquisition of TurbineAero, the world’s leading independent provider of maintenance, repair and overhaul (MRO) services focused on aircraft auxiliary power units (APUs) and other aeroengine components

  • Represented Made Group, a leading Australian company in the healthy food and beverage sector under several brands including “Cocobella”, “Rokeby Farms” and “Impressed and NutrientWater”, in its acquisition of interest in Crossmax Retail Co., Ltd., Thailand’s market leader in ready-to-drink protein shakes named "Hooray!"

  • Advised Apex Medical Center, one of Thailand’s leading operators in the cosmetic surgery industry, on its joint venture with 365mc, a leading and award-winning Korean hospital specializing in advanced obesity treatment and liposuction services, to operate liposuction services using newly advanced technology

  • Assisted Supersports, Thailand’s No. 1 sports specialty retailer within the Central Group, on its acquisition of interest in Rev Edition, the authorised distributor of high performance sports brands (e.g. Hoka, Teva, Saucony, Champion, etc.) operated under the name "Rev Runnr" stores with more than 60 locations nationwide

  • Advised SUN Group on its investment in ION Energy Corporation, the first solar company and a leading innovator in Thailand’s solar industry

  • Advised Rabbit Digital Group (Rabbit’s Tale), a leading advertising agency in Thailand, and its shareholders in connection with the disposal of the Rabbit’s Tale business to Accenture

  • Advised Gratitude Infinite on its acquisition of A Lot Tech, and Melon Thai, which engages in the retail and wholesale of “Sim Thep”, and telephone and telecommunication equipment by distributing through stores, websites, and online trading platforms

  • Assisted Gear Inc in relation to an acquisition by Gearinc Services (Thailand) of certain assets and acceptance of employees from Digiserve Corporation

  • Assisted Mr. Ayuth Charnsethikul on the acquisition of Aoyamatei Co., Ltd., which operates "Hotel AONO" in Chiang Mai

  • Advised Finnomena on its Series B+ fundraising of USD 5.5 million

  • Advised Carlyle on the formation of a joint venture company with Taiwanese majority shareholders and the acquisition in Sushi Express and Sushi Express (Samoa), a popular conveyor-belt sushi chain restaurant across Asia

  • Advised Icap-Sira Group in the acquisition in UAC Advance Polymer & Chemicals, previously a wholly owned subsidiary of UAC, engaging in the chemicals and latex polymers production

  • Assisted CJ CheilJedang, a leading Korean food culture company with products under the brand “bibigo”, in its proposed investment and business cooperation with A-Best, a sophisticated local agricultural producer, manufacturer and seller

  • Advised Ngernturbo, a consumer finance start-up providing loan products and financial services, on the acquisition by Kasikorn Vision, a subsidiary of Kasikornbank

  • Advised EatLab, a Thai-based start-up providing data analytics services for restaurants, on its Series A fundraising by way of crowdfunding

  • Assisted founders of OptAsia Capital, a financial advisory firm, in the disposal of shares to a strategic investor

  • Advised Linden Capital Partners on (i) its indirect acquisition of the entire equity interest in Suretex, a Thai subsidiary of LifeStyles Healthcare, a global sexual health and wellness platform, as part of its global acquisition of LifeStyles Healthcare, and (ii) its USD 200 million syndicated financing for the preceding acquisition

  • Advised Akulaku, a leading banking and digital finance platform in Southeast Asia, on its joint venture with Card X, a subsidiary of SCBX

  • Advised the founders of Unison Group, a leading pharmaceutical and healthcare manufacturer and distributor, on the disposal of its entire equity interest in the group's companies to B.Grimm Healthcare

  • Advised BSCM Foods, a subsidiary of Chia Meng Marketing and leading producer of jasmine rice under the brand names "Hongthong" and "Golden Phoenix", on the acquisition in Khaeng Rang Took Wan, the manufacturer and distributor of health food products under the brand “Nim Nim”

  • Assisting Freshket on its Series B Fundraising of approximately USD 23.5 million led by Modulus Venture Capital, a wholly-owned subsidiary of PTT Oil and Retail (PTTOR) with participation from Openspace Ventures, Betagro Holding, Orzon and Volta Circle

  • Advised Kasikorn Vision, a wholly owned subsidiary of Kasikornbank, on its joint venture with J Asset Management, a wholly owned subsidiary of JMT Network Services, under the name “JK Asset Management” engaging in managing non-performing loans and non-performing assets

  • Acted for Bain Capital Credit in connection with its Series A financing of USD 250 million to Cuisine Solutions Inc. in regard to its Thailand operations

  • Advised Food Selection and Food Culture, the Japanese restaurant operators of the “Shinkanzen Sushi” and “Semma Sushi” brands, on their joint venture with Central Restaurants Group (CRG)

  • Advised Principal Healthcare, a subsidiary of Principal Capital (PRINC), on its acquisition of a majority interest in Pewdee Clinic, a chain of renowned aesthetic clinics in Thailand

  • Advised Navis Capital in (i) the acquisition of the Ambassador Education Group, a license holder of six private international schools in Thailand, and (ii) the acquisition of N.P. Medical, a license holder of S-Spine Hospital and RMC Clinic

  • Advised Clover Power in connection with its acquisition of an entire interest in Siam Pallet Power, the operator of a natural gas-fired cogeneration power plant in Saraburi province

  • Advised a company engaging in higher education services in the People’s Republic of China on its acquisition in Shinawatra University

  • Advised Sanofi Group with respect to the internal restructuring and business transfer of its subsidiaries in Thailand to spin-off its Consumer Healthcare Business as a standalone business unit under Opella Healthcare

  • Advised on the joint venture between PharmCare Group, an operator of a health tech platform called “PharmCare” and Humanica

  • Advised Boon Rawd Trading on its investment in Siri Pro, which engages in food and beverage distribution businesses

  • Advised Thai Feed Mills in connection with the investment by Morgan Stanley Group in its subsidiary

  • Assisted Freshket on its Series A and Series B fundraising of USD 3 million and USD 23.5 million, respectively

  • Advised SGS Capital on the acquisition of Gifted IVF Udon Thani Clinic, a company engaged in the operation of an In-Vitro Fertilisation (IVF) clinic in Thailand

  • Advised Tencent on (i) its acquisition from Ookbee in WECOMICS, an online platform for user-generated comics and cartoons, and (ii) its further investment in Series C fundraising by Ookbee

  • Acted as deal counsel for the first and second rounds of fundraising by Deeple, a renowned and leading advanced AI Chatbot start-up in Thailand

  • Advised Dubai World Group on its divestment in the companies operating W Hotel Koh Samui

  • Advised on the strategic alliance between Tri-En Solution and Toenec Corporation

  • Advised DKSH on its acquisition of the entire distribution operations of scientific and laboratory devices from a group of sellers who are leaders in the distribution of scientific and laboratory devices in Thailand

  • Advised J&T Express Group on its investment and the restructuring of its group companies in Thailand

  • Advised China YuHua Group on its acquisition of Stamford International University

  • Advised on the disposal by Asvatanakul Family in Takeda Thailand, a subsidiary of Japan’s largest pharmaceutical company, Takeda Pharmaceutical, by way of an entire business transfer and sale of shares

  • Advised on the acquisition and financing of Ansell, one of Thailand’s leading sexual wellness businesses, by CITIC Capital and Humanwell Healthcare

  • Advised CPRN (Thailand) on its acquisition in Allianz C.P. General Insurance from Charoen Pokphand Group

  • Advised on the formation of a joint venture between a group of shareholders in Villa Market and We Retail, a subsidiary of Property Perfect

  • Advised on the acquisition by a subsidiary of Hydoo Group in Hydoo Best Group, an operator of the Trust City project near Suvarnabhumi Airport

  • Advised on the divestiture of the Global WorkPlace Solutions Business in Thailand by Johnson Controls Inc. to CBRE, Inc. as part of its global disposition

  • Advised on the acquisition by Mindo Asia Investments and LeapFrog Thailand Holdings in Syn Mun Kong Insurance

  • Advised Lombard and LeapFrog in connection with their acquisition from Royal & Sun Alliance Insurance of Syn Mun Kong Insurance through a bidding process

  • Advised TPV Technology, an internationally-renowned monitor and TV manufacturer listed on both the Hong Kong and Singapore Stock Exchanges, in connection with its acquisition of properties in Thailand for its Thailand operation

  • Advised on the global demerger of information management business of Brambles Industries, an operator of Recall brand

  • Advised on the acquisition by TOA Corporation of the business of Thaimart Store

  • Advised on the formation of a joint venture between A. Schulman and SCG Chemicals

  • Advised ChemChina Petroleum Corporation in its potential investment in Thailand including the proposed business co-operation with an operator of a refinery in Thailand

  • Advised on the mergers between BlueScope Steel and Nippon Steel regarding BlueScope Steel’s operation in Thailand and a business spin-off

  • Advised UOB Asset Management on its business consolidation with ING Funds (Thailand)

  • Advised Singha Corporation, one of the largest food and beverage corporations in Thailand, on its acquisition of Hesco Food

  • Advised on the acquisition in Toys “R” Us Business by Toys “R” Us, Inc. as part of its Asian shareholding restructure, including advising its Thailand subsidiary on corporate and commercial laws as well as employment-related matters

  • Advised BNP Paribas on the disposal of its entire interest in Cetelem Thailand to Thitikorn (TK), a nationwide hire-purchase provider for automobile and motorcycles

  • Advised on the business Cooperation between Navanakorn Electric, Navanakorn Land and Toyo-Thai Corporation for the development of the Power Plant Project near Navanakorn Industrial Estate

  • Advised on the acquisition by Kanamoto of the remaining interest in Siam Kanamoto from its joint venture partner

  • Advised BlueScope Steel on the disposal of its shares in BlueScope Steel Thailand

  • Advised on the merger of Ayudhya Fund Management and PrimaVest Asset Management

  • Advised BNP Paribas on its disposal of BNP Paribas Peregrine Securities (Thailand) through a bidding process

  • Advised on the spin-off of the two principal subsidiaries, Nation Broadcasting Corporation and Nation International Edutainment by Nation Multimedia Group

  • Advised on the acquisition by Merrill Lynch in Phatra Securities