Commercial Transactions and M&A

Featured Publication: Guide to Doing Business in Thailand
Contacts
T: +84 8 3936 2069

Tilleke & Gibbins helps clients structure and implement strategic transactions that accelerate vertical or horizontal integration and industry consolidation. 

We serve both international clients wishing to acquire operations in Asia and domestic clients wishing to invest in businesses abroad. Free-trade agreements and financial liberalization make companies in Southeast Asia attractive assets for foreign investors. The increased strength of regional currencies and economies has encouraged local operators to invest internationally to increase their competitiveness. Both types of investors rely on our global and regional expertise in mergers, acquisitions, joint ventures, corporate restructuring, and other vehicles for equity investment.

Our clients also tap into our worldwide network of associated law firms to assist with cross-border transactions and benefit from our unique ability to negotiate and draft key contracts in languages including Thai, Vietnamese, Japanese, Mandarin, French, and English. 

We help our clients develop and execute global strategies for business growth. Read about some of our recent representative work. We have:

  • Represented a leading pharmaceutical  company in Thailand and Vietnam in connection with its merger with another multinational pharmaceutical company. We advised on various commercial agreements. We also provided guidance on the procedural steps and permits required before and after the integration of the two companies and implications in terms of employees, businesses, licenses, reorganization, etc. After the integration became effective, we helped the subsidiaries comply with various legal requirements and assisted our client in obtaining the necessary permits.

  • Helped a manufacturer establish a subsidiary for the purpose of relocating its production facility to Thailand. The project was promoted by the Board of Investment and had an investment value of more than THB 100,000,000. We reviewed the joint venture agreement and advised on corporate law, relevant regulations, and necessary permits. We assisted the client in obtaining  permits from the Industrial Estate Authority of Thailand and the Board of Investment to buy land and initiate the project. In addition, we conducted a thorough review of the deposit agreement, land purchase and sale agreement, and utilities service agreement.

  • Conducted due diligence on behalf of a financial institution considering whether to finance the build out of a state-owned operator’s planned 3G network in Thailand and advised the financial institution regarding risk factors. The proposed loan amount as publically disclosed exceeded USD 500,000,000.

  • Advised a diversified manufacturing company in regard to Thailand acquisition financing related to its global acquisition of a plastic division in a USD 11.6 billion cash deal. We assisted in the acquisition of the Thai subsidiaries of the plastic division.

  • Advised a financial fund from Australia on establishing a subsidiary for the purpose of acquiring the pharmaceutical department of a large multinational corporation in Thailand. In order to facilitate this key acquisition, we provided guidance on the regulations on importing and distributing pharmaceutical products in Thailand, as well as on the establishment of a Thai subsidiary. We assisted the client in obtaining approval from the Board of Investment of Thailand. By providing related tax advice, we were able to help the client plan and mitigate tax implications of importing and distributing products from Australia, including advice on regulatory requirements from the Food and Drug Administration. The total value of the project exceeded USD 20,000,000.

  • Assisted a Japanese plastics molding company in its share acquisition of a foreign-owned injection molding subsidiary with over 900 local employees in two separate facilities.

  • Assisted in structuring an airline alliance. As two major international carriers were organizing a joint venture, the firm was approached to assist. The joint venture is now in operation, and has helped to position both carriers for improved profitability.

  • Applied for and obtained an investment certificate for a rapidly expanding U.S. Internet company to set up shop and conduct business in Vietnam. Worked with the client to secure a local joint venture partner and structured the deal to allow the client to retain independence and control of the company.

  • Advised a leading producer of semiconductor processing equipment on contracts between the target company and a third party.

Namesort icon Position Office

Sawita Bosakaranut

T:+66 2653 5530

E-mail

Consultant
Bangkok

Shalini Ghosh

T:+66 2653 5623

E-mail

Consultant
Bangkok
Yangon

Theerapat Sombatsatapornkul

T:+66 2653 5950

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Associate
Bangkok

Thomas J. Treutler

T:+84 4 3772 5633

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Partner
Hanoi

Timothy Wales

T:+66 2653 5555

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Consultant
Bangkok

Tiziana Sucharitkul

T:+66 2653 5777

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Partner
Bangkok

Torajiro Ohashi

T:+66 2653 5536

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Consultant
Bangkok

Tu Ngoc Trinh

T:+84 4 3772 5556

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Associate
Hanoi

Vinh Quoc Nguyen

T:+84 8 3936 2061

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Associate
Ho Chi Minh City

Waewpen Piemwichai

T:+84 4 3772 5618

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Consultant
Hanoi
Date Title
April 15, 2011

Thomas J. Treutler and Michael K. Lee Speak on Franchising in Vietnam

Michael K. Lee, Thomas J. Treutler

On April 15, 2011, Thomas J. Treutler, Partner and Managing Director, and Michael K. Lee, Department Head – Corporate/Commercial, spoke on “Legal Obstacles for Retailers & Overview of...

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January 18, 2011

Experts Put Map Ta Phut into Perspective for Foreign Investors

Charunun Sathitsuksomboon, David Duncan

On January 18, 2011, Charunun Sathitsuksomboon, Attorney-at-Law, and David Duncan, Consultant, presented on “Map Ta Phut and the Thai Regulatory Environment” at the Tilleke & Gibbins...

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April 30, 2010

Chambers & Partners Recognizes Firm in Corporate and M&A: Mid-Market

Cynthia M. Pornavalai, Piyanuj (Lui) Ratprasatporn

On April 30, 2010, Chambers & Partners recognized Tilleke & Gibbins’ expertise in Corporate and M&A: Mid-Market with a Tier 1 ranking in Thailand in Chambers Asia 2010....

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February 25, 2011

Chambers Asia-Pacific 2011 Honors Seven Tilleke & Gibbins Attorneys

Cynthia M. Pornavalai, Darani Vachanavuttivong, Hassana Chira-aphakul, Michael K. Lee, Sriwan Puapondh, Thawat Damsa-ard, Thomas J. Treutler

On February 25, 2011, Chambers Asia-Pacific released its rankings for law firms and individual lawyers.  Based on thousands of interviews conducted by a team of 50+ full-time...

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February 25, 2011

Commercial Transactions and M&A Practice Ranked in Band 1 in Thailand

Piyanuj (Lui) Ratprasatporn, Cynthia M. Pornavalai

On February 25, 2011, Chambers Asia-Pacific ranked the firm’s Corporate/M&A (Mid-Market) practice in Band 1 in Thailand. Chambers ranks law firms and individual lawyers in bands from...

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Date Title
January 22, 2008

Market Dominance under the Trade Competition Law

Chaiwat Keratisuthisathorn

The Trade Competition Act (TCA) seeks to maintain a fair and open market by prohibiting business operators from exerting unfair influence through monopoly, exclusivity, price fixing, quantity...

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February 1, 2008

Exclusivity under the Trade Competition Law

Chaiwat Keratisuthisathorn

The Trade Competition Act (TCA) seeks to maintain a fair and open market by prohibiting business operators from exerting influence through unfair trade practices. One such unfair trade practice...

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February 14, 2008

Vietnam Issues Official Letter on Automobile Industry

Thomas J. Treutler

On February 4, 2008, the Vietnamese government issued an official letter outlining a master plan for the development of the automobile industry. Official Letter 819/VPCP-CN calls for measures to...

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April 29, 2008

Accelerated WTO Implementation – Foreign-Owned Import Companies Now Permitted Multiple Distributors

John King, Kien Trung Trinh

Until very recently, wholly foreign-owned companies that established themselves in Vietnam for the purpose of importing their products from their overseas affiliates were only permitted to market...

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June 20, 2008

Insurance Reforms Not Investor-Friendly

Reports have circulated of life insurance policyholders being defrauded by unscrupulous insurance agents. The good news is that under recent amendments to the Life Insurance Act, policyholders are...

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