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.