In this landmark deal, the founders of FoodStory, in collaboration with other corporate venture capital investors participating in a Series B fundraising round, have effectively executed their exit strategy by divesting the business to Line Man Corporation Pte. Ltd. (“Line Man Singapore”) through its Thai subsidiary, Wongnai Media Co., Ltd. LINE MAN Wongnai is proudly counted amongst Thailand’s esteemed trio of unicorn startups.

The transaction, marked by its sophistication, amounts to approximately THB 584 million. This complex deal was skillfully navigated using a two-tiered approach, involving a combination of cash payment and share-swap with newly issued Line Man Singapore shares.

Throughout the entire process, our experienced team at Kudun and Partners provided invaluable counsel and support, expertly guiding the complex corporate restructuring aspects of the transaction. Meticulously considering the regulatory intricacies associated with Thailand’s Foreign Business Act, we ensured a seamless and legally compliant process. In addition to our regulatory expertise, we also offered strategic tax planning and optimisation services, ensuring an outcome that maximised benefits for all stakeholders involved.

Ekachai Chotpitayasunon, partner of Kudun and Partners, lead the transaction, with assistance from associates, Natdanai Chitsakdanon, Chuenkamol Viriya, and Suphatcha Sirilapanan.

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LINE MAN Wongnai Acquires Thai POS Startup FoodStory Expanding Merchant Solutions Business to All Restaurant Segments

LINE MAN Wongnai เข้าซื้อกิจการ FoodStory รุกขยายธุรกิจ Merchant Solutions ครอบคลุมทุกตลาดร้านอาหารในไทย

The post Kudun and Partners Represented Founders of Living Mobile Co., Ltd on a Multi-Million Baht FoodStory Deal appeared first on Kudun.

The transaction was divided into two phases, of which we successfully completed the first phase of the acquisition involving the purchase of 75% of the total shares in Prime Packing Company Limited for a total value of THB 214.2 million. This is a significant milestone for BG Container Glass Public Company Limited and is part of a larger transaction that involves the acquisition of 100% shares in Prime Packing Company Limited, with an estimated total value of THB 580 million.

This complex transaction involved a comprehensive range of legal services, including negotiation, due diligence, contract negotiations, and closing.

Chai Lertvittayachaikul, partner and head of renewable energy practice, led the transaction, with assistance from associates; Rujisaya Bubpaprohm, Viparat Timprathuang, Korapat Sukhummek and Natthamol Dechpokked.

The post Kudun and Partners Represents BG Container Glass Public Company Limited in the Acquisition of Shares in Prime Packing Company Limited appeared first on Kudun.

The investment structure involving CAS, which our lawyers helped establish since the inception of Apollo’s investment in Thailand years ago, served as Apollo’s only investment structure through which Apollo’s investments in Thailand had been made. Giant deals had taken place during the period of Apollo and CAS’s collaborative initiations, including the mezzanine investments in an iconic MahaNakhon building project (jointly invested with Goldman Sachs) and the CAS Centre building project, both located in prime commercial areas of Bangkok.

Both Mauritius-registered AAS and Cayman Islands-registered AAR serve as Asia-focused real estate investment arms of Apollo Global Management, Inc., one of the largest private equity firms in the United States with highly profitable real estate investments in Thailand. On the other side, CAS Capital (Thailand) Limited was Apollo’s Thai-affiliated real estate investment and asset management firm. CAS had been substantially involved in every Apollo’s highly successful investments in the country.

The transactions were led by Peerasanti Somritutai, our partner and head of real estate practice, and assisted by associates: Chavisa Jinanarong, Chayakorn Boonsri, Thanchon Phetroocheang, Thamonwan Koosuwan, Tossavajra Siriratusdorn and Pimklao Kanchanakom.

The post Kudun and Partners successfully assisted Apollo in its departure from the investment structure involving CAS Capital (Thailand) Limited (Apollo’s former Thai affiliate). appeared first on Kudun.

The Soontareeya Project, a luxury flagship condominium development, is poised to be one of Areeya’s most prestigious projects to date and is expected to significantly drive Areeya’s post-COVID19 growth. Our representation of Areeya in the associated transactions is a crucial factor for the development of the Soontareeya Project.

The transactions were led by Saravut Krailadsiri, partner and co-head of tax practice and Peerasanti Somritutai, partner and head of real estate practice of the firm together with associates; Chavisa Jinanarong, Chayakorn Boonsri and Thanpitcha Rojanawiboonchai.

The post Kudun and Partners represented Damri Residence Co., Ltd. on transactions worth THB 2 billion for Areeya’s Soontareeya Residence in Bangkok appeared first on Kudun.

Our scope of services includes (i) conducting the legal due diligence exercise, which involved multiple documents and specific legal requirements for the transportation business, (ii) preparing all transaction agreements, which required several rounds of negotiation between the parties, (iii) preparing all corporate approval documents such as BOD resolution, EGM package etc., as well as (iv) liaising on behalf of the client with the SEC and SET to clarify the details of the transaction.

The transaction was led by Kudun Sukhumananda, partner and co-head of Corporate and M&A Practice and Thitawan Thanasombatpaisarn, partner of Capital Markets practice together with senior associates,  Supatra Kerinsaguna, and assisted by associates, Salinthip Anpattanakul, Viparat Timprathuang, Chuenkamol Viriya, and Wilin Somya.

The post Kudun and Partners successfully assisted King Gen Public Company Limited (NBC) on the acquisition of 90 percent shares in Montri Transport Corporation Public Company Limited (Montri) for a total value of THB 539 million. appeared first on Kudun.

Not only did we manage to complete the application and secure the license within the client’s three-month deadline, but this license represents a big step forward for the client’s expansion into the wholesale business and support of their parent company’s commercial operations.

On a macro level, we have long been aware of the sector’s monopolistic conditions and unfair price determination of medical reagents, because there were only a few players who could supply these products to the market. This market exploit has long fueled the allocative inefficiency of vital medical supplies in the Thai medical industry. We regard this license acquisition as the first significant step toward combating current distributor monopolies and contributing to the overall health, well-being, and access to medical care of the Thai people as a whole.

The transaction was led by Thanyaluck Thongrompo, partners of Kudun and Partners, together with associates; Sirapat Chaisarnseri and Natthamol Dechpokked.

The post Kudun and Partners successfully assisted Mindray Medical (Thailand) Limited in obtaining a foreign business license from the Ministry of Commerce for wholesale laboratory analytical and diagnostic reagents. appeared first on Kudun.

The transaction was led by Peerasanti Somritutai, partners of Kudun and Partners, together with associates; Chavisa Jinanarong, Chayakorn Boonsri, Thamonwan Koosuwan,  Thanchon Phetroocheang and Pimklao Kanchanakom

The post Kudun and Partners successfully represented Apollo Global Management, Inc. (Apollo), on the divestiture of 100% of their equity and debt investments for a total value of over USD 200 million appeared first on Kudun.

The transaction was led by Kudun Sukhumananda and Ekachai Chotpitayasunon, partners of Kudun and Partners together with Thitawan Thanasombatpaisarn, senior associate, and assisted by associates, Natdanai Chitsadanon, Chuenkamol Viriya, and Teerachai Boonyaratgalin

The post Kudun and Partners represents Bay Computing Co., Ltd.’s entire business transfer (EBT) and an offshore structuring for the sale of shares to Beryl 8 Plus PCL for the total value of THB 1.4 billion appeared first on Kudun.

The transaction was led by Kudun Sukhumananda, partner and co-head of Capital Markets Practice together with Thitawan Thanasombatpaisarn, senior associate, and assisted by an associate, Viparat Timpratuang.

The post Kudun and Partners advises Polynet (POLY) on its IPO on SET with market capitalization of THB 3.06 billion. appeared first on Kudun.

The transaction, requiring both knowledge and expertise in capital markets and M&A, is a highly multifaceted and complicated matter involving five reputable listed companies (TNL, Saha Pathana Inter-Holding (“SPI”), BTS Group Holdings (“BTS”), Noble Development (“Noble”), and Rabbit Holdings (formerly known as U City (“U”)).

The transaction was divided into five major parts, starting with our client, TNL issuing shares via a private placement to BTS at a transaction value of THB 2.88 billion and subsequently, issuance of shares via a rights offering to its existing shareholder with a value of THB 3.05 billion.

With the newly injected funds, TNL acquired Oxygen Asset Co., Ltd. from SPI for THB 835.7 million and invested further in acquiring 50% shares of seven real estate companies from U (which are joint venture companies between U and Noble) at a total investment value of THB 531.9 million. The total value of these projects is worth more than THB 2.4 billion. There was also a loan repayment of THB 1.5 million to shareholders.

Through the restructuring, TNL’s market value could potentially be worth more than THB 10 billion.

The deal was led by Kudun Sukhumananda and Chai Lertvittayachaikul, partners of the firm, together with Thitawan Thanasombatpaisarn and Yanin Sirilak, senior associates, and assisted by associates; Viparat Timprathuang, Jeeranant Geevorakulnont, Kamonrat Kongtheing, Supajit Koosittiphon, Kodchakorn Laungratanamas, Natdanai Chitsadanon, Natthamol Dechpokked, Sirivipa Kittisubun and Wilin Somya.

The deal is awarded “LegalOne Merits (Exemplary)” by Legal One, an independent global research company.

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Two Dragons of Yaowarat – Ratchawong districts join forces through two business groups with further investment to strengthen the alliance and drive the Thai economy.

BTS – ขยายไปสู่ธุรกิจปล่อยสินเชื่อโดยมีที่ดินค้ำประกัน

The post Thanulux Public Company Limited’s major restructuring and expansion of investment with a total value of THB 8.8 billion. appeared first on Kudun.