Commercial Transactions and M&A

Featured Publication: Guide to Doing Business in Thailand
Contacts
T: +84 8 3936 2069
T: +855 23 964 210

T: +66 2056 5995
T: +66 2056 5995
T: +95 1 255 208

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 Positionsort icon Office

Dat Hoang Truong

T:+84 8 3936 2070

E-mail

Of Counsel
Ho Chi Minh City

Alan Adcock

T:+66 2056 5871

E-mail

Partner
Bangkok

Charunun Sathitsuksomboon

T:+66 2056 5541

E-mail

Partner
Bangkok

Chinachart Vatanasuchart

T:+66 2056 5688

E-mail

Partner
Bangkok

Cynthia M. Pornavalai

T:+66 2056 5559

E-mail

Partner
Bangkok

David Lyman

T:+66 2056 5597

E-mail

Partner
Bangkok

John King

T:+855 23 964 210

E-mail

Partner
Phnom Penh
Bangkok

Kobkit Thienpreecha

T:+66 2056 5534

E-mail

Partner
Bangkok

Michael K. Lee

T:+84 8 3936 2069

E-mail

Partner
Ho Chi Minh City

Piyanuj (Lui) Ratprasatporn

T:+66 2056 5533

E-mail

Partner
Bangkok
Date Titlesort icon
April 19, 2016

Aaron Le Marquer to Participate as a Panelist at AIR Insurance M&A Conference

Aaron Le Marquer, Athistha (Nop) Chitranukroh

In 2015, there was a surge of M&A activity in the insurance sector in Asia due to the region’s strong economic growth. To review the landscape for insurance M&A in Asia, Aaron Le Marquer,...

Read more

June 16, 2016

AEC Business Leader Program: Presentation on Law and Tax in Myanmar

Yuwadee Thean-ngarm

Yuwadee Thean-ngarm, a consultant in Tilleke & Gibbins’ Yangon office, will serve as a speaker at Bangkok Bank’s “AEC Business Leader Program,” a program that delivers insights and learning...

Read more

July 11, 2011

Alan Adcock Named a Leading IP Strategist

Alan Adcock

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....

Read more

June 25, 2012

Alan Adcock Named Leading IP Strategist by Intellectual Asset Management

Alan Adcock

IAM Strategy 300 has named Alan Adcock, partner and deputy director of the Tilleke & Gibbins intellectual property group, among the world’s leading IP strategists. Alan was recognized...

Read more

January 14, 2016

Alan Adcock to Present on Commercial Contracting at PP&F Conference

Alan Adcock

Alan Adcock, partner and deputy director of Tilleke & Gibbins’ intellectual property and regulatory affairs group, will make a presentation at “Negotiating, Drafting, and Managing Commercial...

Read more

Date Titlesort icon
August 4, 2011

Creating Incentives: Cross-Border M&A in Thailand

Cynthia M. Pornavalai

Recognizing the importance of foreign investment for its economic growth, Thailand has through the years relaxed restrictive investment laws and regulations, thus favorably positioning itself as a...

Read more

April 6, 2012

Critical Considerations for Foreign Investors Doing Business in Thailand

Piyanuj (Lui) Ratprasatporn, Charunun Sathitsuksomboon

Increasingly investors are expanding their businesses to developing countries with a view to reducing costs and selling products in new markets. Thailand is among the most attractive destinations...

Read more

April 5, 2013

Customs Arbitration for Disputes on Security Amount

Chinachart Vatanasuchart

When importers bring products into Thailand, the goods need to pass through customs formalities, during which officials will inspect the products to assess duties. Duties are determined based on...

Read more

August 15, 2008

Cyber Crime: Big Brother Is Watching

On July 19, 2007, Thailand’s new Computer Crimes Act (CCA) took effect. CCA Section 26 made data retention mandatory for all “Service Providers,” who would be required to keep records of their...

Read more

November 28, 2016

Direct Sale and Direct Marketing Act: Draft Amendments Could Pose Challenges to Operators

Penrurk Phetmani, Nutavit Sirikan

In recent years, the Thai government has attempted to strike a balance between attracting investment and protecting consumer interests. On the one hand, it has tried to liberalize foreign...

Read more