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.