Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) represented Recap Investments Pte. Ltd. (Recap) on a multi-phased transaction which initially resulted in execution of a sales and purchase agreement between Recap and Outrigger Global Holdings (Outrigger) on July 24. Recap agreed to sell Laguna Beach Resort in Phuket to Outrigger Global Holdings for approximately US$118 million. The location of Laguna Beach Resort is significant, as it is in the 1,000-acre Laguna Phuket integrated resort area, one of Asia’s best holiday destinations.

The transaction is also significant from a legal perspective because it was structured to incorporate the ‘entire business transfer’ concept, where the entity that transfers the assets will be required to be dissolved within the same fiscal year as the transfer. This structure allows the transaction to be exempted from certain taxes, thus also reducing transaction costs.

Chinnavat Chinsangaram, Executive Partner led the project team, with strong support from Pakdee Paknara, Partner, Joseph Merling, Senior Associate, Pathamakorn Buranasin, Senior Associate, Sunyaluck Chaikajornwat, Senior Associate, Anusith Doungjai, Associate and Ravipat Mullijarupongs, Associate.