Weerawong C&P represented Vela Software Group, an operating group of Constellation Software Inc. (TSX: CSU), a global technology powerhouse with a market capitalization in the tens of billions of Canadian dollars and a track record of acquiring, strengthening, and scaling mission-critical software businesses across industries worldwide, on its successful acquisition of CAN Innovation Co., Ltd., a leading Thai provider of distribution management software. This landmark transaction marks Vela Software’s first official entry into Thailand, representing a strategic expansion into one of Southeast Asia’s fastest-growing technology markets. By acquiring a premier local software provider, Vela has firmly planted its flag in Thailand, underscoring its long-term commitment to growth in the region.

Weerawong C&P represented Beijing Haoyang Cloud Data Technology Co., Ltd., a leading Chinese hyperscale data center provider, on its strategic investment in Haoyang Data Center 1 (Thailand) Limited. This landmark project involves the development of a 300-megawatt hyperscale facility in Rayong Province, backed by a total investment exceeding USD 2.2 billion (THB 72.67 billion). Weerawong C&P acted as lead counsel on all Thai legal matters, including corporate structuring, securing BOI promotion, and managing regulatory approvals.

Weerawong C&P represented Techlead NPN Public Company Limited on its strategic acquisition of 100% of the shares in Gupay Co., Ltd., a licensed electronic payment service provider regulated by the Bank of Thailand, from Mr. Chaval Jiaravanon. The transaction involved complex regulatory and licensing considerations, including statutory notifications and full compliance with Bank of Thailand requirements. We provided comprehensive legal support across all aspects of the transaction, such as conducting legal due diligence on Gupay Co., Ltd., drafting and negotiating transaction documents, managing regulatory filings, and ensuring seamless coordination to maintain uninterrupted business operations. This acquisition represents a key milestone in Techlead NPN Public Company Limited’s strategic expansion into Thailand’s rapidly growing fintech and digital payments sector, strengthening its position for sustainable growth in the regulated financial services market. 

Weerawong C&P advises Dymon Asia Private Equity, a private equity firm focused on growth capital investments in Southeast Asia, in the formation of a joint venture, TUSK Asia Co., Ltd., with the Arthit Ourairat Institution. This joint venture involved investing in Satit Bilingual School of Rangsit University and British International School Phuket, Satit International Bilingual School of Rangsit University Chiangmai and SBS Bangkok— prominent and long-established schools in Thailand

Weerawong C&P represented of Thai AirAsia X, the low fare long haul carrier, through its successful rehabilitation process. In August 2023, the Central Bankruptcy Court issued an order for approval of the USD 1.7 billion (approximately THB 62 billion) business rehabilitation plan to revamp the company’s administration process and restructure its debts, delivering greater efficiencies and a solid platform for future growth.

Weerawong C&P represented the Bangkok Mass Transit System Public Company Limited (BTSC) in two cases in connection with agreements with the Krungthep Thanakom Company regarding the operation and maintenance of the Green Line skytrain extensions, which is a project owned by the Bangkok Metropolitan Administration (BMA). BTSC filed two cases in 2021 and 2022 consecutively before the Thai Administrative Court concerning the repeated failures of the BMA and Krungthep Thanakom to pay the debt owed to BTSC for its operation and maintenance services for the Green Line skytrain extensions, with claims of almost THB 20 billion owed to BTSC. 

Weerawong C&P represented Universal Music Group (UMG) in its landmark acquisition of the remaining shares in RS UMG Company Limited, granting UMG 100% ownership. This strategic move gives UMG full control of RS’s iconic back catalog, which includes over 10,000 songs and is valued at more than THB 2.2 billion. This acquisition further expands UMG’s influence and market presence in Thailand’s music industry. 

Weerawong C&P represented RealTruck, Inc., a premier manufacturer of functional aftermarket automotive accessories, in its acquisition of Mountain Top, a leading designer and manufacturer of truck bed accessories. This transaction, part of a global deal, expanded RealTruck’s presence in the OEM-focused European truck bed accessories market, enhancing its global footprint and supply base.

Weerawong C&P is representing Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) in the offering and allocation of not exceeding 220,000,000 trust units in its fourth capital increase by means of a General Mandate to existing trust unitholders, using the method of Preferential Public Offering (PPO). The total value of this offering was approximately THB 2,090 million.

Weerawong, Chinnavat & Partners Ltd. is representing SCG Decor Public Company Limited (SCGD) in an initial public offering (IPO) and the listing of shares on the Stock Exchange of Thailand (SET) with the market capitalization of THB 18.9 billion, including a tender offer/share swap for delisting of SCG Ceramics Public Company Limited (COTTO) from the SET. This IPO is considered the largest IPO of the year 2023 and a part of the business restructuring plan of SCC Group, where SCGD is a flagship company of SCC Group undertaking the manufacturing business of floor tiles, wall tiles, and sanitary ware in both Thailand and abroad. 

Weerawong, Chinnavat & Partners Ltd. represented Fiskars Group in the acquisition of the renowned Danish luxury lifestyle brand Georg Jensen, globally recognized for its craftmanship and designs for jewelry, watches, silver holloware and home products, from the private equity fund Investcorp. The deal valued at EUR 151.5 million (USD 165 million) closed on 1 October 2023. 

Weerawong C&P represented Universal Music Group, the world leader in music-based entertainment, in its investment of 70% shareholding in a joint venture with an estimated value of THB 1.6 billion, with RS Music, one of Thailand’s most successful music and entertainment companies, holding a 30% shareholding. Since completion, the joint venture has acquired and managed the music catalogues of more than 10,000 songs and their related content dating from 1981-2022, such as music videos, lyrics, compositions, pictures, photographs, and other rights under license agreements. The catalog represents more than 960 popular and well-known artists. The deal closed on 10 November 2023.

The deal led by Siregran Sakuliampaiboon, Counsel included associates Warisa Monsawat and Tasha Tiensilakul.

Weerawong C&P represented SCB X Public Company Limited ("SCBX"), a mothership company of the SCBX Group, on its additional investment in Monix Co., Ltd., a joint venture fintech company of SCBX and Abakus Group which focuses on businesses relating to digital lending, alongside a fund managed by Lombard Asia, as part of the USD 20 million equity fundraising by Monix Co., Ltd. The deal was signed and completed in January 2023

Weerawong C&P represented Card X Co., Ltd., a leading provider of credit cards and personal loans in Thailand and a subsidiary within the SCB X Group, on its joint venture arrangement with Streetcorner Ecommerce Limited, a Hong Kong-based company within Akulaku Group which operates a leading banking and digital finance platform in Southeast Asia, to establish a joint venture company to operate personal loan and nano-finance businesses in Thailand. The joint venture company was incorporated on 9 January 2023, and will launch its personal loan and nano-finance businesses in Thailand after receiving relevant licenses.

Weerawong C&P represented SCB X Public Company Limited (“SCBX”), a parent company of the SCB X Group, on its investment in Akulaku, a leading banking and digital finance platform in Southeast Asia, by way of subscription of the USD 42,600,000 loan note issued by Streetcorner Ecommerce Limited, a Hong Kong-based company within Akulaku Group. The transaction involved several jurisdictions, including Hong Kong, Indonesia, Cayman Islands, British Virgin Islands, Philippines and Thailand. This transaction is part of SCBX’s plan to grow its presence in Southeast Asia.

Weerawong, Chinnavat & Partners represented Frasers Property (Thailand) Public Company Limited (FPT) on the acquisition of the entire share capital of TCCCL Sena Co., Ltd. (TCCCL Sena), the developer of The Royal Residence, a luxury residential project in Bangkok, through Sathorn Property Management Co., Ltd., in which FPT holds a 100% equity stake and indirectly becomes the major shareholder of TCCCL Sena. The transaction was valued at THB 591 million and closed on 2 December 2021.

Weerawong, Chinnavat & Partners Ltd. represented BAFS Clean Energy Corporation Company Limited (“BC”), a subsidiary of Bangkok Aviation Fuel Services Public Company Limited (BAFS) in the acquisition of ATC Enviro Co., Ltd. (“ATCE”), PDI Mae Ramat Co., Ltd. (“PDIMR”) and P.P. Solar (Nong-No) Co., Ltd. (“PPS”) from PDI Energy Company Limited, a subsidiary of Padaeng Industry Public Company Limited.

This transaction was the first steppingstone for BC to diversify its portfolio into renewable energy business by acquiring 7 solar farms located in Tak, Khon Kaen and Samut Sakhon provinces with the combined capacity of 36.4 megawatts, operated by ATCE, PDIMR and PPS. The transaction valued at THB 1,704 million and was closed on 1 March 2021.

Debt Counselling Project – Practical training for law students at Chulalongkorn University and Thammasat University

Weerawong C&P is honored to participate in a pro bono project run by Chulalongkorn University and Thammasat University assisting debtors who have been negatively affected by the Covid-19 pandemic. Our lawyers provide training for the faculty of law students offering debt counseling services for individuals and SMEs. 

The initial online training sessions for law students held on 17-18 July 2021 focused on the substantive and procedural law aspects of debt counselling. Subsequent ongoing mentoring sessions have provided in-depth knowledge and practical advice in order to assist individuals and SMEs in resolving their debt problems.

Weerawong Chittmittrapap, Senior Partner, commented, “This project is a collaboration of legal professionals who are dedicated to assisting their community in a time of need. I am particularly impressed by the positive outcomes achieved in a short period of time – the law students have assisted clients in resolving debt issues in more than 30 cases.”

Jedsarit Sahussarungsi, Senior Associate, is an active member of the project, “This great initiative basically turns challenges into opportunities. It is my honor to participate in this project and share my experience with brilliant young minds from Thammasat and Chula, who are eager to help others during these troubling times. This project has already positively impacted so many lives and raised awareness about household debt problems. I’m sure the students learnt a lot from their clients and had fun putting their knowledge into practice.”

Participating Weerawong C&P lawyers include senior associates Poonpat Vasupongpipat, Jedsarit Sahussarungsi and Supasiri Korattana, and associates Thanawan Kirdsinsap, Peeradon Monjaiang, Sakaewan Boonsuriyaphan and Thaya Uthayophas.

We look forward to continued participation in this effective and worthy project.

 

Weerawong, Chinnavat & Partners Ltd. represented GRP1, a subsidiary of Global Power Synergy Public Company Limited, in its acquisition of 90% of the total shares in Sheng Yang Energy Co., Ltd. (“Sheng Yang”) from Tatung Forever Energy Co., Ltd., a subsidiary of Tatung Co., Ltd. Sheng Yang operates a solar power generation business in Taiwan with a total installed generation capacity of 55.8 MW,  including the legal due diligence, preparation of the Share Sale and Purchase Agreement, Technical and Commercial Management Agreement, Shareholder’s Loan Agreement and Escrow Agreement.  The deal was valued at NTD 2,650 million. (2020-2021)

Weerawong, Chinnavat & Partners Ltd. represented a major insurance company and its shareholders in a USD 9 million shareholder dispute against a potential foreign investor conducted under the SIAC Arbitration Rules. The dispute was settled before trial. June 2020

Weerawong C&P advised PTT Exploration and Production Public Company Limited Group in the issuance of the long term senior notes by PTTEP Treasury Center Company Limited in an aggregate principal amount of USD 500 million with the fixed interest rate of 2.587% per annum with the tenor of 7 years under the USD 3 billion Global Medium Term Notes Program. Payments under the notes are guaranteed by PTTEP. The settlement date for the transaction was 10 June2020.

 

The Weerawong C&P team led by Patcharaporn Pootranon, Partner included James Lawden, Senior Counsel and associates Veerakorn Samranweth, ArisaThaweepanyayot and Irene Ittisarnronnachai.