We highlight below a few transactions involving tender offer (including mandatory, voluntary, partial, and delisting tender offers) our team has advised:

• Advised ThaiBev group on the successful tender offer for all the remaining securities of Sermsuk (SSC), one of Thailand’s leading beverage companies with renowned beverage brands and a subsidiary of ThaiBev, as well as the subsequent delisting of SSC’s securities from the Stock Exchange of Thailand


• Advised Central Pattana in connection with the acquisition by its subsidiary of a majority interest of shares in Siam Future Development (SF), followed by a mandatory delisting tender offer of all the remaining shares of SF. The transaction was subsequently awarded the “Deal of the Year 2023” by the Stock Exchange of Thailand


• Advised on the strategic alliance between Allianz SE and Sri Ayudhya Capital (AYUD) in respect of the life and non-life insurance businesses in Thailand via (i) an acquisition by Allianz SE of equity in AYUD via a partial tender offer and a private placement and (ii) a business integration of Allianz General Insurance and Sri Ayudhya General Insurance


• Advised on a voluntary tender offer by Thai President Foods of President Bakery


• Advised OSK Group in relation to the acquisition in BFIT Securities and its subsequent mandatory tender offer


• Advised CE Lime, a joint venture company between Carmeuse - the world’s leading producer of lime and lime-related products with more than 150 years of experience - and GP Group, on the acquisition in Golden Lime, followed by a tender offer


• Advised on the disposition by GE Capital in the Bank of Ayudhya to The Bank of Tokyo Mitsubishi UFJ via a voluntary tender offer, the then largest M&A transaction for Thai companies


• advised on a delisting tender offer of CS LoxInfo


• Advised on a delisting tender offer of Prasit Pattana (Phayathai Hospital)


• Advised on a delisting tender offer of Capital Nomura Securities