Deal Announcements

  • Weerawong C&P represented Oaktree Capital on the USD 500 million business combination of Fitness First Asia and Celebrity Fitness to create one of the largest fitness club networks in Asia
  • Weerawong, Chinnavat & Partners Ltd. represented Oaktree Capital on the business combination of its portfolio company Fitness First Asia and Celebrity Fitness, a portfolio company of Navis Capital Partners, to create one of the largest fitness club networks in Asia.

    The combined entity, Evolution Wellness Holdings, includes 152 wholly-owned fitness clubs across Asia, almost 7,000 employees and approximately 400,000 members. The deal, valued at approximately USD 500 million, closed in July 2017.

    Weerawong C&P also advised on the USD 130 million financing from, among others, The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank (Thailand) and Kiatnakin Bank Public Company Limited.  
     
    The Weerawong C&P team was led by Panuwat Chalongkuamdee, Partner, Nattaporn Pengkul, Partner (for the financing transaction), Chanvit Prachayapipat, Senior Associate and Panuwat Chaistaporn, Associate.
     

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