Tilleke & Gibbins recently advised Eastern Water Resources Development and Management Public Company Limited (East Water), guiding them through the joint venture company and shareholders arrangement with STECON Power Company Limited, a wholly owned subsidiary of Sino-Thai Engineering and Construction Public Company Limited.
The newly formed entity, East Water STECON Utilities Company Limited, is set to invest in Thailand’s industrial water utilities sector. East Water holds a 60% stake in the joint venture, while STECON Power holds the remaining 40%.
This strategic collaboration aims to enhance the industrial water infrastructure in Thailand’s Eastern Economic Corridor and support emerging sectors such as data centers, leveraging the combined expertise of both partners. The venture is expected to strengthen East Water’s position in the industrial utilities market.
The transaction was led by Patcharaporn Pootranon, Partner and Head of Capital Markets, with support from Narita Sakunchotikarote. We provided comprehensive legal counsel to East Water throughout the transaction, which included reviewing the Joint Venture Agreement (JVA) and Shareholders’ Agreement (SHA), ensuring regulatory compliance, and strategically advising and assisting East Water in navigating the legal complexities of the joint venture arrangement and be a part of their successful collaboration.
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