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.

Name Position Office

Aaron Le Marquer

T:+66 2653 5784

E-mail

Consultant
Bangkok

Ahmet Yesilkaya

T:+66 2653 5535

E-mail

Consultant
Bangkok

Annika Svanberg

T:+84 8 3936 2057

E-mail

Consultant
Ho Chi Minh City

David Duncan

T:+66 2653 5538

E-mail

Consultant
Bangkok

Jakkrit Bunmee

T:+66 2653 5505

E-mail

Consultant
Vientiane
Bangkok

Jim Dao

T:+84 8 3936 2062

E-mail

Consultant
Ho Chi Minh City

Kasma Visitkitjakarn

T:+66 2653 5542

E-mail

Consultant
Bangkok

Sawita Bosakaranut

T:+66 2653 5530

E-mail

Consultant
Bangkok

Shalini Ghosh

T:+66 2653 5623

E-mail

Consultant
Bangkok
Yangon

Timothy Wales

T:+66 2653 5555

E-mail

Consultant
Bangkok
Date Title
June 21, 2011

The BigChilli Magazine Interviews David Lyman

David Lyman

The BigChilli, a Bangkok-based lifestyle magazine, recently interviewed David Lyman, Chairman & Chief Values Officer of Tilleke & Gibbins. The interview highlighted the background...

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June 23, 2011

Bloomberg Story on Thai Elections Quotes David Lyman

David Lyman

Bloomberg, a leading financial news and data service, recently published a story about the upcoming Thai elections and the possible impacts that it could have on foreign investors. The article...

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June 24, 2011

Tips on Buying IP in Asia

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Alan Adcock, Partner and Deputy Director of the IP group at Tilleke & Gibbins, was a panelist this week at Managing Intellectual Property’s...

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Oxford Business Group Launches The Report: Thailand 2011

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July 11, 2011

Alan Adcock Named a Leading IP Strategist

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Alan Adcock, Partner and Deputy Director of the Tilleke & Gibbins Intellectual Property group, has been named to the IAM Strategy 250, a listing of the world’s leading IP strategists....

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Date Title
January 22, 2008

Market Dominance under the Trade Competition Law

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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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