Deal Announcements
- Weerawong C&P represented Citigroup Global Markets, Merrill Lynch
and Standard Chartered Bank in relation to PTT Global Chemical’s innovative liability management
transaction involving tender offer to purchase its outstanding USD 1 billion 4.25% Senior Unsecured
Notes
Weerawong, Chinnavat & Partners Ltd. represented the Dealer
Managers and Coordination Agents, namely Citigroup Global Markets
Inc., Merrill Lynch (Singapore) Pte. Ltd. and Standard Chartered
Bank in relation to PTT Global Chemical Public Company Limited’s liability management
transaction, involving a tender offer to purchase its outstanding USD 1 billion 4.25% Senior
Unsecured Notes due 2022 (the Existing Notes) from existing holders and the subsequent issuance by
GC Treasury Center Company Limited of like-kind notes, guaranteed by PTT Global Chemical Public
Company Limited, on terms substantially identical to the Existing Notes. The settlement date was 28
June 2018. The transaction is an innovative one because notes issued by GC Treasury Center
Company Limited for sale to investors outside Thailand will be exempt from Thai withholding
taxes. The Weerawong C&P team was led by Veeranuch Thammavaranucupt, Senior
Partner, James Lawden, Senior Counsel and Pitchaya
Kittiwittayakul, Associate.
- Weerawong C&P represented Prananporn in the acquisition of newly issued shares in The One Enterprise
Weerawong C&P represented Prananporn Co., Ltd. in the acquisition of newly issued shares in The One Enterprise Co., Ltd. resulting in Prananporn Co., Ltd. holding 50% of the total shares. The deal valued at THB1,905 million closed in May 2017. The One Enterprise is the parent company of GMM One TV Co., Ltd., Act Studio Co., Ltd and Exact Scenario Co., Ltd. The Weerawong C&P team led by Weerawong Chittmittrapap, Senior Partner included associates Peerapat Kumpayorm, Peerasak Sukpisit, Pimkwan Subprasert and Rapeeporn Sangjampa.
- Weerawong C&P represented Dusit Thani in the acquisition of a stake in NR Instant Produce
Weerawong C&P represented Dusit Thani Public Company Limited in the acquisition of a stake in NR Instant Produce Co., Ltd. (NRIP). Dusit Thani is one of Thailand’s foremost hotel and property development companies. NRIP is a leading company engaging in the production and export of ready-made food to Europe, American and Australia. Dusit Thani acquired 2,452,000 ordinary shares and 200,000 newly issued shares of NRIP, representing 25.9 percent of total shares of NRIP. The deal valued at THB 663 million (USD 21 million) closed in February 2018. The team was led by Panuwat Chalongkuamdee, Partner and Parithat Chamnongsilp, Associate.
- Weerawong C&P represented TCC Assets in a joint investment with GMM
Grammy
Weerawong C&P represented TCC Assets Co., Ltd. in
relation to the joint investment through Siridamrongdham Co., Ltd. and Bhakdivattana Co., Ltd. with
GMM Grammy Public Company Limited in digital television, radio and online broadcasting and content
provider businesses, namely, GMM25 digital TV channel, EFM 104.5Mhz, Green Wave 106.5Mhz, Chill
Online and GMM TV by the subscription of 50% newly-issued shares in GMM Channel Trading Co., Ltd.
The deal valued at THB 1 billion (USD 32 million) closed in December 2017. The team led by
partner Samata Masagee included associates Peerapat Kumpayorm,
Visit Phromsiripong, Tirayu Songdacha and Arnut
Pongprueksa.
- Weerawong C&P advised Key Safety Systems in its acquisition of Takata assets and operations in Thailand
Weerawong C&P advised Key Safety Systems Inc. in its acquisition of the Takata Corporation assets and operations in Thailand. Key Safety Systems acquired Takata’s global assets through coordinated restructuring proceedings and equity acquisitions. The deal closed in April 2018. The team led by Panuwat Chalongkuamdee, Partner, included Akeviboon Rungreungthanya, Senior Associate and associates Peerasak Sukpisit and Visit Phromsiripong.
- Weerawong C&P represented Rexel in the sale of its operations in South East Asia to AIAC
Weerawong C&P represented Rexel Group, a leader in the distribution of electrical equipment and services for the construction, renovation and maintenance of buildings and infrastructures, in the sale of its operations in South East Asia to American Industrial Acquisition Corporation Group (AIAC), a private equity firm. The transaction included assets in Thailand, Indonesia, Singapore, Vietnam, the Philippines, Macau and Malaysia. The deal valued at Euro 136 million closed in December 2017. The Weerawong C&P team was led by Panuwat Chalongkuamdee, Partner and Chositar Daecharux, Associate.
- Weerawong C&P represented PTTGC in a joint venture with Kuraray and Sumitomo
Weerawong C&P represented PTT Global Chemical Public Company Limited (PTTGC), PTT Group’s petrochemical flagship company, in a joint venture (JV) with two Japanese companies. The JV with Kuraray Co., Ltd. (Tokyo) and Sumitomo Corporation (Tokyo) was established for the manufacture and sale of butadiene derivatives. The deal closed in March 2018. The Weerawong C&P team was led by Panuwat Chalongkuamdee, Partner and Peerapat Kumpayorm, Associate.
- Weerawong C&P represented PTTEP in the assignment and transfer of a 22.22% stake in Bongkot Project
Weerawong C&P represented PTT Exploration and Production Public Company Limited (PTTEP) in the assignment and transfer of a 22.22% stake in Bongkot Project blocks 15, 16, 17 and G12/48 from Shell Integrated Gas Thailand Pte. Limited and Thai Energy Company Limited. The transaction valued at USD 750 million closed in January 2018. The Weerawong C&P team was led by Panuwat Chalongkuamdee, Partner and Pitchapa Tiamsuttikarn, Associate.
Weerawong C&P acted as counsel for dtac, dtac Trinet and TeleAssets in the lease of 2300 MHz network device and equipment by TeleAssets to TOT Public Company Limited as well as the 2300 MHz network domestic roaming service by dtac Trinet Weerawong C&P acted as counsel for Total Access Communication Public Company Limited (“dtac”) and its subsidiaries, dtac Trinet Co., Ltd. and TeleAssets Company Limited, leading mobile service providers in Thailand, in relation to the lease of 2300 MHz network device and equipment by TeleAssets Company Limited to TOT Public Company Limited as well as the 2300 MHz network domestic roaming service by dtac Trinet Co., Ltd. with TOT. Entering into this transaction will give dtac an opportunity to increase income from its ability to receive domestic roaming service fees from TOT for the provision of services to its customers, which will enhance the confidence and service experience for customers, as well as the competitiveness of dtac. The deal is a major breakthrough for Thailand’s digital infrastructure in order to materialize the Government of Thailand's vision of Thailand 4.0. This collaboration between dtac and TOT will also serve the rapid growth of the number of Thailand’s mobile users and stimulate a long-term business opportunity for TOT.
The Weerawong C&P team led by Veeranuch Thammavaranucupt, Senior Partner included Senior Associates Chumpicha Vivitasevi and Sappawit Jansuparerg, and Associate Parithat Chamnongsilp.
- Weerawong C&P represented True Properties in the establishment of Bualuang
Office Leasehold Real Estate Investment Trust (BWORK)
Weerawong C&P represented True Properties Co., Ltd. in
the establishment of Bualuang Office Leasehold Real Estate Investment Trust (BWORK), having Krung
Thai Asset Management Public Company Limited as the Trustee and BBL Asset Management Company Limited
as the REIT Manager. BWORK has invested in the 30-year leasehold rights of land and buildings,
namely True Tower 1 on Ratchadapisek Road and True Tower 2 on Pattanakarn Road, Bangkok.
The total investment value is approximately THB 4,000 million (approximately USD 145
million) which was raised from the issuing of new IPO trust units and money borrowed from Bangkok
Bank Public Company Limited. The first day of trading was on 28 February 2018. The
Weerawong C&P team was led by Khemajit Choomwattana, Partner, Panida
Wongsriyanon, Senior Associate.
- Weerawong C&P represented PTT Public Company
Limited in the purchase of ordinary shares of IRPC
Weerawong C&P represented PTT Public
Company Limitedin the purchase of ordinary shares of IRPC Public Company Limited from
theGovernment Savings Bank on the Stock Exchange ofThailand. The transaction valued at THB 13,845
million (approximately USD 440million) closed on 21 February 2018. The Weerawong C&P team was led by
Veeranuch Thammavaranucupt,Senior Partner and Poonsook Pornpathananangoon, Senior
Associate.
- Weerawong C&P represented Wind Energy in the THB 37 billion (approximately USD 1.15 billion) financing for five onshore wind projects in Northeast Thailand
Weerawong C&P represented Wind Energy Holding Co., Ltd. (WEH) and its project companies in the THB 37 billion (approximately USD 1.15 billion) financing from the Siam Commercial Bank Public Company Limited for five onshore wind projects located in Northeast Thailand, boosting the WEH windfarm total capacity to 720 MW. With eight projects and more than 250 wind turbines, WEH is the largest wind power developer and operator in Southeast Asia. The deal closed in the last quarter of 2017. The Weerawong C&P team led by partners Passawan Navanithikul and Nattaporn Pengkul included associates Panuwat Chaistaporn and Pimkwan Subprasert.
- Weerawong C&P advised GIC Private Limited, a sovereign wealth fund established
by the Government of Singapore, on its sale of 1,154,421,450 ordinary shares
Weerawong C&P advised GIC Private Limited, a sovereign
wealth fund established by the Government of Singapore, on its sale of 1,154,421,450 ordinary shares
of Quality Houses Public Company Limited on the Stock Exchange of
Thailand. The transaction valued at THB 3.56 billion (approximately USD 111 million) closed on 27
November 2017. Bank of America Merrill Lynch was the arranger of the
transaction.
The Weerawong C&Pteam was led by Veeranuch
Thammavaranucupt, Senior Partner and Poonsook Pornpathananangoon,
Associate
- Weerawong C&P represented Symphony Communications and its major shareholders in the Partial Tender Offer for 37 per cent of its shares launched by TIME dotCom International Sdn Bhd
Weerawong, Chinnavat & Partners Ltd. represented Symphony
Communications Public Company Limited as well as its major shareholders in connection with
the Partial Tender Offer for 37 per cent shares (approximately USD 42 million) in Symphony
Communications Public Company Limited launched by TIME dotCom International Sdn Bhd (TdCl), a
wholly-owned subsidiary of Time dotCom Berhad (TIME) and subsequent rights offering (approximately
USD 28 million) of Symphony Communications Public Company Limited. The transaction was
structured as a Partial Tender Offer in order to mitigate the concern on the foreign ownership
restriction under Thai telecom law as well as a subsequent rights offering with a view to achieving
the desired outcome. The transaction was structured to meet the legal constraints and
commercial objectives of both TIME, the acquiror, and Symphony Communications Public Company
Limited, the target company, and the Partial Tender Offer is among very few in the Thai
market.
WCP represented the major shareholders and the target company, Symphony
Communications Public Company Limited, and worked alongside Phatra Securities, financial advisor to
the transaction. The deal closed on 28 December 2017.
The Weerawong C&P team was led
by Veeranuch Thammavaranucupt, Senior Partner and Samata Masagee,
Partner with leading support by associate Thitawan
Thanasombatpaisarn.
- Weerawong C&P represented CPN Retail Growth Leasehold Property Fund in the conversion of CPNRF into CPNREIT valued at USD 1.44 billion, the largest REIT in Thailand
Weerawong C&P represented CPN Retail Growth Leasehold Property
Fund (CPNRF by SCB Asset Management Company Limited) in connection with
the conversion of CPNRF into a real estate investment trust, namely CPNREIT by the transfer of 4
department stores, namely CentralPlaza Rama 2, CentralPlaza Rama 3, CentralPlaza Pinklao and
CentralPlaza Chiang Mai Airport. CPNREIT made additional investments in CentralFestival
Pattaya Beach and Hilton Hotel by obtaining loans from financial institutions in the amount of THB
11,908 million. The transfer of assets and the additional investment was valued at THB 46,000
million (approximately USD 1.44 billion). After the conversion and such investment in January
2018, CPNREIT became the largest real estate investment trust in Thailand. The
Weerawong C&P team led by Khemajit Choomwattana, Partner included
Panida Wongsriyanon, Senior Associate and Chanisa Sajjaporameth,
Associate.
- Weerawong C&P represented Thai Alliance Co., Ltd. in the pre-conditional voluntary tender offer to acquire a 47.3 percent interest in SiS Distribution (Thailand) Public Company Limited
Weerawong C&P represented
Thai Alliance Co., Ltd., a subsidiary of SiS International Holdings Limited (SiS)
(HKEX) in the pre-conditional voluntary tender offer to acquire a 47.3 percent interest in SiS
Distribution (Thailand) Public Company Limited representing a maximum of 184.1 million shares at THB
7 per share provided that, upon the completion, SiS and its group must hold shares of the Company of
more than 51% of the total voting rights. Upon
completion of the voluntary tender offer, SiS Distribution (Thailand) Public Company Limited, one of
the leading distributors of IT products in Thailand, became a unit of SiS. The transaction was
valued at THB 1,417 million (approximately USD 43 million) and closed on 20 December
2017. The Weerawong C&P team led by
Panuwat Chalongkuamdee, Partner included Peerapat Kumpayorm,
Associate for the acquisition, as well as Banphot Kittikinglert, Senior
Associate and Kulnisha Srimontien, Associate advising on corporate
governance.
- Weerawong, Chinnavat & Partners Ltd. represented Do Day Dream Public Company Limited on its initial public offering
Weerawong, Chinnavat & Partners Ltd. represented Do Day Dream
Public Company Limited (the issuer) in its initial public offering on the Stock Exchange of
Thailand. The deal was valued at THB 4,028 million (approximately USD 123 million); THB 53 per share
with 76 million shares offered due to overwhelming response from institutional investors.
Bualuang Securities Public Company Limited acted as financial advisor and sole underwriter.
Do Day Dream is the maker and distributor of Snail White skincare products and aims to expand
its production capacity, distribution channels, research and development in order to expand in the
region. Trading commenced on 26 December 2017. The Weerawong C&P team led by
Veeranuch Thammavaranucupt, Senior Partner and Patcharaporn Pootranon,
Partner included associates Thitawan Thanasombatpaisarn, Nattaya
Tantirangsi and Duangporn Wongnimmarn.
- Weerawong, Chinnavat& Partners Ltd. represented Macquarie Bank Limited in
connectionwith the purchase of up to 30,000,000 ordinary shares of Fortune Parts IndustryPublic
Company Limited
Weerawong,Chinnavat & Partners Ltd. represented Macquarie Bank Limited
in connection with the purchase of up to 30,000,000 ordinary shares of Fortune Parts Industry Public
Company Limited, a company listed on the Market for Alternative Investment.
The Weerawong C&P team was
led by Veeranuch Thammavaranucupt, Senior Partner, Patcharaporn Pootranon, Partner and
Poonsook Pornpathananangoon, Associate.
- Weerawong, Chinnavat & Partners Ltd. represented Macquarie Bank Limited in the subscription of up to 50,000,000 newly-issued ordinary shares of Vintage Engineering Public Company Limited
Weerawong, Chinnavat & Partners Ltd. represented Macquarie Bank Limited
in connection with the subscription of up to 50,000,000 newly-issued ordinary shares of
Vintage Engineering Public Company Limited, a company listed on the Market for Alternative
Investment, pursuant to the offering of the shares on a private placement basis, in whole or in
part, on one or multiple occasions. The Weerawong C&P team was led by Veeranuch
Thammavaranucupt, Senior Partner, Patcharaporn Pootranon,
Partner, Poonsook Pornpathananangoon, Associate
and Duangporn Wongnimmarn, Associate.
.
- Weerawong, Chinnavat & Partners Ltd. represented Thai Bev on the USD 726.6 million acquisition of ownership interests in the MDC Group, Myanmar
Weerawong, Chinnavat & Partners Ltd. represented Thai Beverage
Public Company Limited (Thai Bev), one of Asia's largest beverage producers, on the USD
726.6 million acquisition by Internal Beverage Holdings (Singapore) Pte. Limited, its subsidiary, of
75% of the ownership interests in Myanmar Distillery Co., Ltd. (MDC) and Myanmar Supply Chain and
Marketing Services Co., Ltd. (MSC), together with International Beverages Trading Company Limited
(collectively, the MDC Group). MDC Group is Myanmar’s leading manufacturer, marketer and
distributor of distilled beverages, including Grand Royal, the country’s leading whisky. The
acquisition provides Thai Bev with access to an expanding market and distribution network. The deal
closed on 12 October 2017. The Weerawong C&P team led by Weerawong Chittmittrapap,
Senior Partner and Sunyaluck Chaikajornwat, Partner included
Wiriya Chinkarn, Senior Associate and associates Visit
Phromsiripong, Peerasak Sukpisit, Tirayu Songdacha,
Arisa Thaweepanyayot and Nichakarn Noppamas.
- Weerawong C&P represented BTS Group Holdings in the THB 63,360 million financing for the new mass transit Pink Line and Yellow Line monorail systems
Weerawong, Chinnavat & Partners Ltd. represented BTS Group Holdings Public Company Limited in the financing for Northern Bangkok Monorail Company Limited and Eastern Bangkok Monorail Company Limited in respect of the new mass transit Pink Line (Khae Rai - Min Buri) and Yellow Line (Lat Phrao - Samrong) monorail systems, respectively. The two monorail companies are jointly invested in by BTS Group Holdings Public Company Limited, Sino-Thai Engineering & Construction Public Company Limited and Ratchaburi Electricity Generating Holding Public Company Limited. The financing for each project is THB 31,680 million (approximately USD 950 million), with facilities of THB 63,360 million (approximately USD 1,900 million) in total. The financiers are Bangkok Bank, Krung Thai Bank and The Siam Commercial Bank. The deal closed on 12 October 2017. The Weerawong C&P team led by Passawan Navanithikul, Partner included associates Panuwat Chaistaporn and Sireedhorn Kittiphumwong.
- Weerawong C&P represented TOA Paint and Wybrant Holding in the IPO of TOA Paint (Thailand) Public Company Limited
Weerawong C&P represented TOA Paint (Thailand) Public Company
Limited, the largest retail decorative paint and coating manufacturer in Thailand, and the
selling shareholder, Wybrant Holding Limited, in connection with the initial public
offering (IPO) of TOA Paint (Thailand) Public Company Limited. The size of the IPO is
THB 12,182,400,000 (approximately USD 367 million). The IPO
comprised a domestic offering under Thai SEC regulations and international offering under Regulation
S of the US Securities Act. Bualuang Securities PCL and Kasikorn Securities PCL are the financial
advisors and joint lead underwriters and UBS AG, Singapore Branch is the international purchaser.
The shares commenced trading on the Stock Exchange of Thailand on 10 October 2017. The
Weerawong C&P team led by Veeranuch Thammavaranucupt, Senior Partner included
Trinuch Chuenchomlada, Senior Associate and associates Phatamol
Phisitbuntoon, Kulnisha Srimontien, Chanisa Sajjaporameth and
Piyajitt Pewtongngam.
- Weerawong C&P represented Origin Property Public Company Limited in the THB
4 billion acquisition of all shares in Proud Residence Co., Ltd.
Weerawong, Chinnavat & Partners Ltd. (Weerawong C&P)
represented Origin Property Public Company Limited (ORI) in the
THB 4 billion acquisition of all shares in Proud Residence Co., Ltd., the developer of The Park 24,
a luxury condominium project in the central business district of Bangkok. At the same time, ORI
offered newly-issues shares valued at THB 1 billion under private placement to the existing
shareholders of Proud Residence. By entry into this transaction, ORI will be able to improve its
business capabilities and competitiveness through expansion into the high-end condominium
industry, thereby enhancing brand recognition and perception in the higher demographic of
customers. The deal closed on 2 October 2017. The Weerawong C&P team led
by Sunyaluck Chaikajornwat, Partner included M&A associates Jirapat
Thammavaranucupt and Arnut Pongprueksa as well as capital markets team,
Sawita Peetawan, Senior Associate, and associates Kulnisha
Srimontien and Trin Ratanachand.
- Weerawong C&P represented Sermsang Power Corporation in the offering of 276,375,000 shares valued at THB 2.1 billion
Weerawong, Chinnavat & Partners Ltd. (Weerawong C&P) represented Sermsang Power Corporation Public Company Limited (SSP) in the offering of 230,375,000 newly-issued ordinary shares and 46,000,000 ordinary shares of SSP by its existing shareholder on the Market for Alternative Investment. The total offering size was 276,375,000 shares valued at THB 2.1 billion (approximately USD 63 million). The first day of trading was on 27 September 2017. SSP is listed as a holding company for operating companies engaged in solar power businesses in Thailand and Japan. Kasikorn Securities Public Company Limited was the financial advisor. The Weerawong C&P team led by Veeranuch Thammavaranucupt, Senior Partner included associates Poonsook Pornpathananangoon, Thanapan Pachimsawat and Duangporn Wongnimmarn.
- 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.
- Weerawong C&P represented Krung Thai Asset Management in the THB 125.58 billion asset sales of TCIF, THIF and TRIF to Asset World Company Limited
Weerawong Chinnavat & Partners Ltd. represented Krung Thai Asset Management Public Company Limited (KTAM), the fund manager, in the asset sales of Thai Commercial Investment Freehold and Leasehold Fund (TCIF), Thai Hotel Investment Freehold and Leasehold Property Fund (THIF) and Thai Retail Investment Fund (TRIF) to the group companies of Asset World Company Limited and assisted on the delisting and dissolution process of these funds. The value of the assets sold was approximately THB 125.58 billion (approximately USD 3.77 billion), including Bangkok landmarks such as The Okura Prestige, Athenee and Empire Tower. The funds, which were delisted on 18 July 2017, consisted of a tender offer of the investment units, an innovative approach for unitholders. The Weerawong C&P team was led by Weerawong Chittmittrapap, Senior Partner, Patcharaporn Pootranon, Partner and Nattaya Tantirangsi, Associate.
- Weerawong C&P advises Dusit Thani in a JV with Central Pattana for the development of a large-scale, mixed-use real estate project valued at USD 1.05 billion in the CBD of Bangkok
Weerawong C&P represented Dusit Thani Public Company Limited, one of Thailand’s foremost hotel and property development companies, in a joint venture with Central Pattana Public Company Limited for the development of a large-scale, mixed-use real estate project with an estimated value of THB 36.7 billion (approximately USD 1.05 billion) in the central business district of Bangkok. The project will build on the unique Thai heritage of Dusit Thani to create a modern iconic landmark consisting of a hotel, residences, retail, office and green space. Weerawong C&P also assisted in the negotiation to extend the lease agreement with the Crown Property Bureau for 30+30 years for an additional plot of 24 rai at the intersection of Silom Road and Rama 4. The deal closed on 28 June 2017.
The Weerawong C&P team was led by Weerawong Chittmittrapap, Senior Partner, Panuwat Chalongkuamdee, Partner and mergers and acquisitions associates Parithat Chamnongsilp and Yanin Sirilak, as well as Banphot Kittikinglert and Pratumporn Somboonpoonpol, Senior Associates of the corporate governance team.
- Weerawong C&P represented Berli Jucker Public Company Limited in the issuance of senior unsecured debentures in the largest single issue by a Thai enterprise to date
Weerawong C&P represented Berli Jucker Public Company Limited in the issuance of senior unsecured debentures in the largest single issue by a Thai enterprise to date. The total offering to institutional and high net-worth investors was THB 82 billion (approximately USD 2.29 billion). The proceeds were for the financing of the acquisition of Big C Super Center, investments and working capital. Debenture 2016-1 was issued on 7 September 2016 and Debenture 2016-2 was issued on 8 December 2016. The debentures are rated "A+" by Tris Rating Co., Ltd. The Weerawong C&P team was led by Veeranuch Thammavaranucupt, Senior Partner, Passawan Navanithikul, Partner, Jongtip Tangsripairoje, Senior Associate and Kulnisha Srimontien, Associate.
- Weerawong C&P advised UBS AG Hong Kong on the issuance and offering of USD 300,000,000 0.5 per cent exchangeable bonds due in 2021 issued by CP Foods Holdings Limited
Weerawong C&P advised UBS AG Hong Kong
on theissuance and offering of USD 300,000,000 0.5 per cent exchangeable bonds due in2021 issued by
CP Foods Holdings Limited (CPFH), an offshore subsidiary ofCharoen Pokphand Foods Public Company
Limited (CPF), Thailand’s largestagribusiness conglomerate. The bonds are listed on the Singapore
ExchangeSecurities Trading Limited and are exchangeable into shares of CP ALL PublicCompany Limited,
Thailand’s largest convenience store operator. The Weerawong
C&P team was led by Peangpanor Boonklum, Senior Counsel, Veeranuch Thammavaranucupt, Senior
Partner and Trinuch Chuenchomlada, Senior Associate.
- Weerawong C&P is representing PTT Public Company Limited,
Thailand’s largest energy firm, in the restructuring of its oil marketing and retail business
Weerawong C&P is representing
PTT Public CompanyLimited, Thailand’s largest energy firm, in the restructuring of its
oilmarketing and retail business worth up to THB 121 billion. The restructuring of the retailunit,
to be named PTT Oil and Retail Business Co., Ltd., involved morethan 1,400 service stations
representing 40 percent of Thailand’s petrolstation market. The Weerawong C&P team is led by Peangpanor Boonklum,
Senior Counsel and Panuwat Chalongkuamdee, Partner.
- Weerawong, Chinnavat & Partners Ltd. represented the Asset World
Corp Co., Ltd. group (AWC) in two acquisition financing
transactions:
- Financing for the acquisition of hotel and
retail building assets from (1) Thai Hotel Investment Freehold and Leasehold Property Fund (THIF)
and (2) Thai Retail Investment Fund (TRIF) by the companies under the AWC group including TCC Hotel
Asset Management Co., Ltd. and Asset World Retail Co., Ltd. The total facilities amount was THB
25,000 million (approximately USD 736 million). The financiers were Siam Commercial Bank Public
Company Limited and Kiatnakin Bank Public Company Limited. The assets acquired from THIF and TRIF
under this transaction included Hilton Sukhumvit Bangkok, Marriott Marquis Queen's Park, Plaza
Athénée Bangkok, The Okura Prestige Bangkok, Pantip Plaza, Asiatique and Tawanna Night Bazaar. The
deal closed on 19 May 2017. - Financing for the
acquisition of commercial building assets from Thai Commercial Investment Freehold and Leasehold
Fund (TCIF) by the companies under the AWC group including T.C.C. Commercial Property Management
Co., Ltd. and CW Tower Co., Ltd. The total facilities amount was THB 25,000 million (approximately
USD 736 million). The financier was KASIKORNBANK Public Company Limited. The assets acquired from
TCIF under this transaction included Empire Tower, Athenee Tower, 208 Wireless Road Building and CW
Tower. The deal closed on 19 May 2017. The Weerawong
C&P team was led by partner Nattaporn Pengkul and associates Panuwat
Chaistaporn, Sireedhorn Kittiphumwong and Pimkwan
Subprasert.
- Weerawong C&P represented Pace Development Corporation Public Company
Limited, a leader in Thai luxury property and hospitality, in the allocation of 176,350,000 newly
issued shares to private placement in a capital increase for the purchase of a real estate project
in Japan
Weerawong C&P represented Pace Development Corporation PublicCompany Limited, a leader in Thai luxury property and hospitality, in theallocation of 176,350,000 newly issued shares to private placement in a capitalincrease for the purchase of a real estate project in Japan, as well as320,000,000 newly issued shares by general mandate to global institutionalinvestors in a private placement. The transaction was valued at THB1,489,050,000 (approximately USD 43 million). The lead underwriter for thisshare offering was Asia Plus Securities and the Placement Agent was CLSASingapore Pte Ltd.
The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel, Veeranuch Thammavaranucupt, Senior Partner, Sawit Peetawan, Senior Associate and Duangporn Wongnimmarn, Associate.
- Weerawong C&P represented TPI Polene Power Public Company Limited in
connection with the spin-off and offering of shares on the Stock Exchange of Thailand and
international offering under Regulation S of the US Securities Act
Weerawong, Chinnavat & Partners Ltd. (Weerawong C&P) represented TPI Polene Power
Public Company Limited (the Issuer), a subsidiary of TPI Polene Public Company Limited, as
Thai legal counsel in connection with the spin-off and offering of shares under Thailand’s
Securities and Exchange Commission regulations, and international offering under Regulation S of the
US Securities Act and listing of its shares on the Stock Exchange of
Thailand. CIMB Securities (Thailand) Company Limited, Maybank Kim Eng
Securities (Thailand) Public Company Limited and TISCO Bank Public Company Limited acted as Thai
Financial Advisors and CIMB Securities (Singapore) Pte. Ltd. and Maybank Kim Eng Securities Pte.
Ltd. as International Bookrunners in the offering. TPI Polene Power is a power plant operator in
Thailand, with the largest waste-to-energy power plant operations in the country in terms of
installed waste-to-energy power generation capacity. This is one of
Thailand’s largest offerings and the largest since the EGAT North Bangkok offering. The deal valued
at THB 17.5 billion (approximately USD 508 million) closed on 5 April
2017. The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel and Patcharaporn
Pootranon, Partner and associates Poonsook
Pornpathananangoon and ThitawanThanasombatpaisarn.
- Weerawong C&P represented Frasers Property Holdings Co., Ltd. (FPHT) in
connection with the issue of new shares of Ticon Industrial Connection Public Company
Limited
Weerawong C&P represented Frasers Property Holdings Co., Ltd. (FPHT)
in connection with the issue of new shares of Ticon Industrial Connection Public Company Limited.
FPHT, a subsidiary of Frasers Centrepoint (Singapore), subscribed for newly issued shares of
Thailand's Ticon through a Private Placement Offering following a Whitewash Approval. The deal was
valued at THB 13,230,000,000 (approximately USD 384.5 million) and closed on 17 January
2017. The Weerawong C&P team included Sawita Peetawan, Senior
Associate, Kulnisha Srimontien, Associate and Pattarapa Pattanaporn, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Solvay Group and Solvay Vinyls Holding AG, the major shareholder in the THB 10,448 million (approximately USD 296 million) sale of shares in Vinythai Public Company Limited
Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Solvay Group and Solvay Vinyls Holding AG, the major shareholder in the THB 10,448 million (approximately USD 296 million) sale of shares in Vinythai Public CompanyLimited, a competitive chlor-alkali player in South East Asia and Thailand’s second largest manufacturer of PVC resins, to Asahi Glass Co., Ltd. The deal closed on 23 February 2017. The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel, Patcharaporn Pootranon, Partner and Thitawan Thanasombatpaisarn, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised XIO Fund I LP, a global investment fund, in the acquisition of S&P Global Inc., including McGraw-Hill Financial International LLC (Thailand), for USD 1.1 billion
Weerawong,Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised XIO Fund I LP, a global investment fund, in the acquisition of S&P Global Inc., including McGraw-Hill Financial International LLC (Thailand), for USD 1.1 billion. Weerawong C&P advised on foreign shareholding and privileges under the Thai-U.S. Treaty of Amity, setting up a company and seeking treaty protection for the Thai subsidiary. The deal closed in September 2016.
- Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented
Bangkok Mass Transit System Public Company Limited (BTSC) on its issue totaling THB 22 billion
(approximately USD 618 million) senior unsecured debentures in multiple tranches and with maturities
up to 2026
Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Bangkok Mass Transit
System Public Company Limited (BTSC) on its issue
totaling THB 22 billion (approximately USD 618 million) senior unsecured debentures in multiple
tranches and with maturities up to 2026. The debentures were issued to finance the electrical and
mechanical systems of the Green Line sky train extensions (north - south) and other BTSC
investments. Bangkok Bank Public Company Limited, Bank of Ayudhya Public Company Limited, The
Hongkong and Shanghai Banking Corporation Limited and Phatra Securities Public Company Limited acted
as underwriters. The debentures were issued on 10 November
2016. These are the first debentures issued by BTSC since its public
offering of debentures in 2009, and were issued in a placement to institutional and high net-worth
investors. The debentures are rated “A” with stable outlook by Tris Rating Co., Ltd. and “A(tha)
with stable outlook by Fitch Ratings Thailand Limited. The Weerawong
C&P team was led by Veeranuch Thammavaranucupt, Senior Partner, Jongtip
Tangsripairoje, Senior Associate and Kulnisha Srimontien, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented the majority shareholder
of Jasmine International Public Company Limited (JAS), Mr. Peter Bodharamik in connection with THB
43.56 billion credit facilities from The Siam Commercial Bank Public Company Limited.
Weerawong, Chinnavat & Peangpanor Ltd. represented the majority
shareholder of Jasmine International Public Company Limited
(JAS), Mr. Peter Bodharamik in connection with THB 43.56 billion credit facilities from The
Siam Commercial Bank Public Company Limited for the purchase of up to 100% of shares and warrants in
JAS on the Stock Exchange of Thailand an dthrough tender offer, including the purchase of up to 100%
of shares in Jasmine Telecom Systems Public Company Limited, a subsidiary. JAS is one of Thailand's
largest integrated telecommunication service providers.
The Weerawong C&P team was led by
Veeranuch Thammavaranucupt, Senior Partner, PassawanNavanithikul, Partner, Parichat
Thanapatpaiboon, Senior Associate and Patinya Sriwatcharodom, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented
North Haven Private Equity Asia Angel Company Limited, in its acquisition of 25.63% of all shares in
DSG International (Thailand) Public Company Limited (DSGT) by way of a voluntary tender
offer.
Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented North Haven Private
Equity Asia Angel Company Limited, a private equity fund managed by Morgan Stanley in its
acquisition of 25.63% of all shares in DSG International (Thailand) Public Company Limited (DSGT) by way of a voluntary tender offer. DSGT manufactures
disposable personal care products throughout South East Asia and has subsidiaries in Singapore,
Malaysia and Indonesia. The deal was valued at THB 1.614 billion or USD 46 million,representing
25.63% of total shares in DSGT, and closed on 10 October 2016. The
Weerawong C&P team was led by Peangpanor Boonklum, Senior
Counsel, Sunyaluck Chaikajornwat, Partner,Sawita Peetawan, Senior Associate and Chutharat Romphochee,Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited on the THB 80 billion refinancing in the acquisition of Big C Super Center
Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited on the THB 80 billion refinancing in theacquisition of Big C Super Center. Seven major banks participated in therepayment and refinancing of the loans under a bridging facility in the amountof €3.2 billion and a tender offer facility in the mount of THB 88 billion. Thetransactions closed on 9 September 2016. The refinancing followed the USD 6.2billion acquisition of a majority stake in Big C Thailand in March 2016, thelargest acquisition financing in Thailand in 2016 to date.
The Weerawong C&P team was led by partner Passawan Navanithikul and senior counsel James Lawden.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Pace Development Corporation Public Company Limited in the allocation of newly issued shares to private placement
Weerawong, Chinnavat& Peangpanor Ltd. (Weerawong C&P) represented Pace Development Corporation Public Company Limited, aleader in Thai luxury property and hospitality, in the allocation of 176,350,000 newly issued shares to private placement in a capital increase for the purchase of a real estate project in Japan, as well as 320,000,000 newly issued shares by general mandate to global institutional investors in a private placement. The transaction was valued at THB 1,489,050,000 (approximately USD 43 million). The lead underwriter for this share offering was Asia Plus Securities and the Placement Agent was CLSA Singapore Pte Ltd.
The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel, Veeranuch Thammavaranucupt, Senior Partner, Sawita Peetawan, Senior Associate and Duangporn Wongnimmarn, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Tipco Asphalt PCL (TASCO) on the acquisition of Colas Group
Weerawong C&P represented Tipco Asphalt PCL (TASCO), the country’s leading asphalt maker in the THB 1.9 billion (approximately USD 54 million) acquisition of shares in five subsidiaries (in Singapore, Vietnam, Indonesia and Thailand) of France’s Colas Group, the world’s largest road construction company and a major supplier of blended bituminous products for road surfacing. The acquisition will enable TASCO to boost sales in Indonesia and Vietnam by approximately 200,000 tonnes in 2016.
The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel, Sunyaluck Chaikajornwat, Partner and Jirapat Thammavaranucupt, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Taobao China Holding Limited on the acquisition of Lazada
Weerawong C&P represented Taobao China Holding Limited, a member of the Alibaba Group operating an online shopping website, in the acquisition of a controlling stake in the Lazada Group, a leading e-commerce platform in Southeast Asia. The transaction consists of an investment of approximately USD 500 million in the newly issued equity capital of the Lazada Group and the acquisition of shares from certain shareholders of the Lazada Group, for a total investment by Alibaba of approximately USD 1 billion.
The Weerawong C&P team led by Chinnavat Chinsangaram, Executive Partner, Panuwat Chalongkuamdee, Partner included Associate, Peerapat Kumpayorm, Chutharat Romphochee, Sarinya Israbhakdi, Jadhya Siriseth, Duangporn Wongyaowarak and Pitchaya Kittiwittayakul.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited (BJC) in the THB 88 billion facilities.
Weerawong C&P represented Berli Jucker Public Company Limited (BJC) in the THB 88 billion facilities (approximately USD 2.51 billion) provided by several major banks in Thailand namely Bangkok Bank, KASIKORNBANK, Siam Commercial Bank, Krung Thai Bank, TMB Bank, and Tisco Bank for the acquisition of the shares in Big C Supercenter Plc through a tender offer.
The Weerawong C&P team led by Passawan Navanithikul, Partner included Jongtip Tangsripairoje, Senior Associate and Patinya Sriwatcharodom, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited (BJC) in the EURO 3.2 billion bridge facilities
Weerawong C&P represented Berli Jucker Public Company Limited (BJC) in the EURO 3.2 billion bridge facilities (approximately USD 3.6 billion) provided by international banks namely, BNP Paribas, HSBC, Rabobank ICBC, Mizuho Bank, Standard Chartered Bank, SMBC and Bangkok Bank. The funds are for the acquisition of a 58.56% stake in the Big C Supercenter Plc, a large nationwide retail store, from the France-based Casino Group. This is the largest acquisition financing in Thailand in 2016 to date.
The Weerawong C&P team, led by Passawan Navanithikul, Partner included James Lawden, Senior Counsel, Jongtip Tangsripairoje, Senior Associate and Patinya Sriwatcharodom, Associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Kobelco Millcon Steel Company Limited in the financing for the THB 3.96 billion Facility Agreement
Weerawong C&P represented Kobelco Millcon Steel Company Limited, a joint venture company formed by Thailand’s listed Millcon Steel Public Company Limited and Japan's Kobe Steel, Ltd, in the financing for the THB 3.96 billion Facility Agreement provided by Bangkok Bank Public Company Limited and Mizuho Bank, Ltd. Bangkok Branch. The financing is to be used as the company’s investment and working capital since the company is to produce special-graded steel to serve an expected rising demand from the Thai automotive industry.
The Weerawong C&P team, led by partner Passawan Navanithikul, included Nattaporn Pengkul and Sarinya Israbhakdi.
- Weerawong, Chinnavat & Peangpanor Ltd. represented PTG Energy in its first issuance of THB 1,500 million debentures to II & HNW
Weerawong C&P represented PTG Energy Public Company Limited, a Thailand-based oil retailer and wholesaler in its first issuance of THB 1,500 million unsecured and unsubordinated debentures to II & HNW. Krungthai Bank Public Company Limited and CIMB Thai Bank Public Company Limited have been appointed as the underwriters. The transaction closed on 19 February 2016 with full subscription.
The Weerawong C&P team was led by Veeranuch Thammavaranucupt, senior partner, Jongtip Tangsripairoje, senior associate and Kulnisha Srimontien, associate.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Vintage Engineering on the acquisition in Japan
Weerawong C&P represented Vintage Engineering PCL (VTE) in the investment in a 1 MW solar power plant located in Kagoshima-ken, Japan. VTE acquired the shares of Energy Gateway Number 1 Co., Ltd., a company incorporated under the laws of Japan on 22 December 2015.
The Weerawong C&P team was led by Peangpanor Boonklum, Executive Partner, senior associate Wiriya Chinkarn and associate Pratumporn Somboonpoonpol.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Golden Land Property Development Company Limited in the sale of shares to Frasers Property Holding (Thailand) Co., Ltd.
Weerawong C&P represented Golden Land Property Development Company Limited (“GOLD”) in the sale of over 685 million newly-issued ordinary shares of Golden Land to Frasers Property Holding (Thailand) Co., Ltd., a subsidiary of Frasers Centrepoint Limited, one of the world’s leading property development companies incorporated in Singapore. The deal was worth THB 4.97 billion (approximately USD 131.7 million). This was the first deal conducted under the new Securities and Exchange Commission rules governing the offering of shares to private placement.
Weerawong C&P team was led by partner Pakdee Paknara, associates Sawita Peetawan, Thitawan Thanasombatpaisarn and Pattarapa Pattanaporn.
- Weerawong, Chinnavat & Peangpanor Ltd. represented dtac Trinet Company Limited on THB 3,000 million credit facility
Weerawong C&P represented dtac Trinet Company Limited (“dtn”), a wholly-owned subsidiary of Total Access Communication Public Company Limited (dtac) – the second largest GSM mobile phone provider in Thailand, as a borrower, in respect of the THB 3,000 million credit facility agreement with a Japanese commercial bank in Thailand as lender in relation to providing inter-company loans to dtac for the settlement of dtac’s outstanding loans with the bank.
The Weerawong C&P team was led by partner Passawan Navanithikul and associate Sarinya Israbhakdi.
- Weerawong, Chinnavat & Peangpanor Ltd. represented dtac Trinet Company Limited on THB 6.7 billion credit facility
Weerawong C&P represented dtac Trinet Company Limited (“dtn”), a wholly-owned subsidiary of Total Access Communication Public Company Limited (dtac) – the second largest GSM mobile phone provider in Thailand, as a borrower for five credit facility agreements in an aggregate of approximately THB 6.7 billion, from various major Thai commercial banks and Japanese commercial banks in Thailand. The financing was prepared for the payment of the license fee of the 1800 MHz License and/or the 900 MHz (4G) license bidding arranged by the National Broadcasting and Telecommunications Commission of Thailand, in which dtn is a bidding arm of dtac. The financing was also used for other purposes including the capex investment in the 2100 MHz Licence and refinancing of dtac’s loan under syndicated facility agreement.
Weerawong C&P team was led by partner Passawan Navanithikul and associate Jarirat Chevangkul.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Amata VN Public Company
Limited on its initial public offering (IPO) on the Stock Exchange of Thailand
Weerawong C&P represented Amata VN
Public Company Limited, a 75-per-cent-owned subsidiary of Amata Group, Thailand’s largest
industrial estate developer, on its initial public offering (IPO) on the Stock Exchange of Thailand
(SET). The funds raised in the THB 1.25 billion (approximately USD 35 million) IPO in Thailand will
be used to develop the new Hi-Tech Industrial Park project at Amata City Long Thanh in Vietnam. This
is the third Thai holding company listed on the SET to raise funds domestically in order to finance
business expansion in a foreign country.
The first day of trading on
the SET was 16 December 2015.
The Weerawong C&P team was led by
executive partner Peangpanor Boonklum, associates Sawita Peetawan and Wiriya
Chinkarn.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Credit Guarantee and Investment Facility (CGIF) in connection with S$195 million unsecured bonds issued by IVL Singapore Pte Ltd.
Weerawong C&P represented Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB) in connection with the Thai legal aspects of the guarantee to be provided by CGIF of S$195 million (USD 138.2 million approximately) unsecured bonds issued by IVL Singapore Pte Ltd., a Singaporean subsidiary of Indorama Ventures Public Company Limited (IVL), a listed Thai company. CGIF received a counter indemnity from the issuer and the Thai parent.
This represents one of CGIF’s first transactions in Thailand.
The use of an offshore issuing vehicle was unusual for the Thai market, and Bank of Thailand approval was obtained for the issue of bonds through the offshore vehicle and payment to CGIF of guarantee fees and under the counter indemnities. The transaction closed on 7 October 2015.
CGIF was established by ADB and the members of ASEAN together with the People's Republic of China, Japan, Republic of Korea (ASEAN+3). CGIF is a key component of the Asian Bond Markets Initiative. It was established to promote the development, stability and resilience of financial markets in the region. CGIF provides credit guarantees for local currency denominated bonds issued by investment grade companies in ASEAN+3 countries.
IVL is one of the world’s leading petrochemical producers and leading manufacturer of wool yarns.
The Weerawong C&P team was led by partner Veeranuch Thammavaranucupt and associate Parithat Chamnongsilp.
- Weerawong, Chinnavat & Peangpanor Ltd. represented PTT Public Company Limited on the divestment of its 30.6% stake in SPRC by selling 1.24 billion shares in the initial public offering
Weerawong C&P represented PTT Public Company Limited (PTT) on the divestment of its 30.6% stake in Star Petroleum Refining Company Limited (SPRC) by selling 1.24 billion shares (worth THB 11.18 billion, approximately USD 372.6 million) in the offering of 1.44 billion shares in the initial public offering (worth THB 12.96 billion, approximately USD 432 million). PTT offered 86% of the total offering size under Thailand's Securities and Exchange Commission regulations and the listing of shares on the Stock Exchange of Thailand (SET), as well as an international offering under Rule 144 A/Regulation S of the U.S. Securities Act. SPRC is Thailand's last refinery company to list on the SET. After the offering, PTT's shareholding is reduced from 36% to 5.4% while Chevron holds 60% of shares of SPRC. The offering closed on December 3 and the first trading day on the SET was December 8, 2015.
The Weerawong C&P team was led by executive partner Peangpanor Boonklum, senior associate Patcharaporn Pootranon and associates Poonsook Pornpathananangoon and Thitawan Thanasombatpaisarn.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Origin Property Public Company Limited on corporate restructuring and domestic IPO offering
Weerawong C&P represented Origin Property Public Company Limited, a leading condominium project developer, on corporate restructuring and offering of 150 million newly-issued shares valued at THB 1,350 million to the general public via initial public offering (IPO). Trading commenced on the Stock Exchange of Thailand on 7 October 2015. The funds will reinforce Origin Property’s climb to a top-three condominium project developer with new projects in strategic areas. Kasikorn Securities Public Company Limited acted as financial advisor and underwriter.
The Weerawong C&P team was led by partner Peangpanor Boonklum, and associates Sawita Peetawan and Pattarapa Pattanaporn
- Weerawong, Chinnavat & Peangpanor Ltd. represented Thai Foods Group PLC on
corporate restructuring and initial public offering
Weerawong C&P represented Thai Foods
Group PLC (TFG or Thai Foods), a leading fully integrated livestock business, on corporate
restructuring, and initial public offering (IPO). The Thai Foods IPO of 5,100
million shares valued at approximately THB 2,145 million (approx USD 68 million) commenced trading
on the Stock Exchange of Thailand on 8 October 2015. The IPO will fund the expansion of Thai Foods’
main poultry and pork meat processing and animal feed business through global distribution channels,
as well as working capital and debt repayment. KT Zmico Securities Co., Ltd. acted as financial
advisor and underwriter. The Weerawong C&P team was led by partner Peangpanor
Boonklum, senior associate Patcharaporn Pootranon and associates Sawita Peetawan, Poonsook
Pornpathananangoon and Thitawan Thanasombatpaisarn.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Thai Wah Food Products and Thai
Wah Starch on the amalgamation
Weerawong C&P represented Thai Wah Food Products Public Company Limited
(TWFP), Thailand’s leading producer and distributor of noodles and Thai Wah Starch Public Company
Limited (TWS), a leading tapioca product manufacturer and exporter, on their amalgamation and the
incorporation of a new listed company, Thai Wah Plc (TWPC). The firm assisted the companies in
delisting their shares and relisting the shares of the new company under Thailand’s Securities and
Exchange Commission regulations, with paid-up registered capital of THB 880 million. The
amalgamation is part of a strategy for research, development and plant expansion in the ASEAN region
in the next three years. Asia Plus Public Company Limited acted as financial advisor. Trading of
relisted shares on the Stock Exchange of Thailand commenced on October 5,
2015.
The Weerawong C&P team was led by partner Pakdee
Paknara,senior associate Pattraporn Poovasathien and associates
PratumpornSomboonpoonpol, Phatamol Phisitbuntoon and Rapat
Sangkarat.
- Weerawong, Chinnavat & Peangpanor Ltd. represented HSBC in relation to a loan
facility for All Season Property Co., Ltd.
Weerawong C&P represented the Hongkong and Shanghai Banking Corporation
Limited, Bangkok Branch, Bank of China (Thai) Public Company Limited, Industrial and Commercial Bank
of China (Thai) Public Company Limited and Oversea-Chinese Banking Corporation Limited, Bangkok
Branch on their financing of the THB 3.5 billion term loan facility provided to All Seasons Property
Co., Ltd. in relation to the refinance and repayment of the existing intercompany loan that All
Seasons Property Co., Ltd. has with its group. The Weerawong C&P team was led by
partner Passawan Navanithikul, senior associate Nataporn Pengkul and associate Sarinya
Israbhakdi.
- Weerawong, Chinnavat & Peangpanor Ltd. represented Thanachart Bank in the loan
facilities for Raffles Design Institute
Weerawong C&P represented Thanachart Bank Public
Company Limited in the THB 152 million facilities provided to Raffles Assets (Thailand) Limited and
Raffles Design International (Thailand) Ltd. in connection with the financing of the construction
and development of the Raffles Design Institute, Bangna Campus and the working capital for business
operations of the Raffles Design Institute, Bangna Campus. The Weerawong
C&P team was led by partner Passawan Navanithikul, senior associate Nataporn Pengkul and
associate Sarinya Israbhakdi.
- Weerawong, Chinnavat & Peangpanor Ltd. represented WHA Corporation Plc
(WHA) in the acquisition of total shares in Hemaraj Land & Development Plc (Hemaraj) for THB
40.5 billion
Weerawong C&P represented WHA Corporation Plc (WHA) in
the acquisition of 92.88 percent of total shares in Hemaraj Land & Development Plc (Hemaraj) for
THB 40.5 billion (approximately USD 1.15 billion). WHA acquired 22.53 percent
of Hemaraj at 4.50 baht per share from major shareholders and acquired the remaining shares through
a tender offer. The acquisition was financed via a rights issue, as well as loans. Weerawong C&P
also advised on the financing and rights issue. WHA is listed on the SET. It
is Thailand’s largest publicly traded developer of factories and warehouses. Hemeraj is also listed
on the SET and is Thailand’s largest developer of industrial land by market value. The acquisition
will allow WHA to expand its logistics and utilities businesses and expand into land development for
manufacturing centers. WHA is positioned to be the leading provider of logistics, industrial park
development and utilities services for the entire region. The Weerawong
C&P team was led by Weerawong Chittmittrapap and included senior associate Wittaya Kaewkungsadan
and associate Thitawan Thanasombatpaisarn.
|