Tilleke & Gibbins was engaged to work with Stephenson Harwood LLP and act as Thai legal counsel to Kuehne+Nagel in connection with its USD 67.4 million regional acquisition of City Zone Express from Chasen Holding Ltd., adding a fleet of over 260 vehicles and 80,000 sq. m. of warehousing space to the Kuehne+Nagel network.
The firm’s team for this matter, led by Paul Westover and Supasit Saypan, together with Nutavit Sirikan from the firm’s Competition and Trade team, assisted with a full scope of work to support the transaction in Thailand, including advising on deal structure (from both corporate and tax law perspectives), assisting with negotiation of investment flow and purchase price mechanisms, conducting legal due diligence on two Thai subsidiaries, preparing transaction documents, advising on Thai competition and antitrust regulations and requirements, and assisting with closing and implementation matters.
The deal was signed in March 2024 and came to financial close in July 2024, with Kuehne+Nagel completing its acquisition of a 100% stake in the target’s Thai subsidiaries. This acquisition significantly improves and strategically enhances Kuehne+Nagel’s cross-border road logistics offerings in Asia.
Press release: https://newsroom.kuehne-nagel.com/kuehnenagel-to-acquire-city-zone-express-to-strengthen-cross-border-offering-in-asia-pacific/