Weerawong, Chinnavat and Peangpanor Ltd. advised Thanachart Bank Public Company Ltd. in the THB 1,700 million credit facility to Mr. Tassapon Bijleveld for his big lot acquisition of shares in Asia Aviation Public Company Limited (AAV), listed in Thailand, from the existing major individual shareholders of AAV.

   
The Weerawong C&P team was led by Passawan Navanithikul. 
 

Weerawong, Chinnavat & Peangpanor Ltd. advised Country Group Securities Plc (CGS), a leader in the Thai securities industry, on an innovative company structure which will allow the company to pursue new business opportunities.  

This deal is the first of its kind under the Notification of the Capital Market Supervisory Board Re: Shareholding and management restructuring of listed companies (Notification No. Tor. Jor. 34/2552). Although the notification was passed in 2009, it had never been interpreted and utilized by a listed company to create a business entity outside of the securities industry. Listed companies will surely find restructuring easier in the wake of CGS’s groundbreaking deal. 

Under the CGS shareholding and management restructuring, Country Group Holdings Plc (CGH) was set up as a new holding company in order to launch a tender offer for a share swap of CGS shares. CGS was then delisted and CGH was listed on the Stock Exchange of Thailand. The restructuring will position the new entity for expansion in the ASEAN Economic Community to be implemented next year.

The Weerawong C&P team was led by Partner Peangpanor Boonklum.

Weerawong, Chinnavat & Peangpanor Ltd. has advised Rich Asia Steel Plc, a leading manufacturer, trader and distributor of steel products in Thailand, in respect of the sale of shares in its subsidiary, Thai National Products Co Ltd, to Dr Phasin Suebsubanunt, Thiti Kittipattananon and Duendara Limthanakul for approximately β540 million (US$16.4m). The sale of shareholders equity is a strategic step in business restructuring and corporate spin-off. The transcation was completed on 3 December 2014.

The Weerawong C&P team was led by partner Weerawong Chittmittrapap and senior associate Panuwat Chalongkuamdee.

Weerawong, Chinnavat & Peangpanor Ltd. advised Siam Commercial Bank in the joint venture with CPB Equity, Kasikornbank, True Internet Data Center, and Supernap International to establish Supernap (Thailand) Company Limited, ASEAN’s largest data center.

The Supernap data center, located in the  Hemaraj Chonburi Industrial Estate, has been granted the best available tax privilege promotion from the Thai Board of Investment (BOI). Weerawong C&P advised on the project agreements including licensing agreement, construction agreement, and co-location agreement. The transaction is valued at approximately THB 4 billion and closed on December 22, 2014.

Weerawong Chittmittrapap and senior associates Sunyaluck Chaikajornwat and Panuwat Chalongkuamdee led the transaction.

Weerawong, Chinnavat & Peangpanor Ltd. advised NOMURA ASIA INVESTMENT (SINGAPORE) PTE. LTD. on a voluntary tender offer of the shares of Capital Nomura Securities Public Company Limited (CNS), an equity affiliate located in Bangkok. The Nomura Group launched the tender offer with the intention of making CNS a consolidated subsidiary.CNS has 25 branch offices in Thailand, and conducts a growing securities business which includes retail and wholesale functions with a wide range of clients. In recent years, CNS has pursued expansion into surrounding countries such as Laos, Myanmar and Cambodia, where growth is expected to accelerate. The deal is valued at THB 3,365 million.

The Weerawong C&P team was led by partners Peangpanor Boonklum, Pakdee Paknara and senior associates Yaowarote Klinboon and Ekachai Chotipitayasunon.
 

Weerawong, Chinnavat & Peangpanor Ltd. has advised PTT Public Co., Ltd. in connection with the issuance of unsecured and subordinated debentures to public investors, including PTT existing debentures holders of PTTC14DA and PTTC14DB and new retail investors in the amount of up to THB12,000 million. The debentures are rated AAA (tha) by Fitch Ratings (Thailand).  Bangkok Bank Pcl, Krung Thai Bank Pcl, The Siam Commercial Bank Pcl and KASIKORNBANK Pcl., are underwriters. The deal closed on December 12, 2014.

The Weerawong C&P team was led by partner Veeranuch Thammavaranucupt and senior associate Jongtip Tangsripairoje.

Weerawong, Chinnavat & Peangpanor Ltd. advised E for L Aim Public Company Limited (EFORL) on the financing transaction in which funds obtained from the syndication of KASIKORNBANK Public Company Limited and CIMB Thai Bank Public Company Limited by E for L Aim Public Company Limited and its newly established subsidiary WCI Holding Co., Ltd., were used in the acquisition of the entire share capital of Wuttisak Clinic Inter Group Company Limited, the largest beauty clinic in Thailand, through WCI Holding Co., Ltd. WCIG has 120 branches in Thailand as well as 11 franchises in Lao PDR, Cambodia, Vietnam and Myanmar. The total facilities amount was THB 3,400 million. The deal closed on December 4, 2014.

The transaction was led by Passawan Navanithikul, Partner and Nattaporn Pengkul, Senior Associate. The firm’s corporate team also advised on the acquisition.

Weerawong, Chinnavat & Peangpanor Ltd. advised Scan Inter on its disposition of 100% of its shares in Scan Inter Far East Energy, which operates a 2.5MW solar power plant in Lopburi Province, to Inter Far East Engineering for the sum of THB  231 million.

The Weerawong C&P team included leading partner Kudun Sukhumananda and senior associate, Panuwat Chalongkuamdee.

Weerawong, Chinnavat & Peangpanor Ltd. advised Bualuang Securities, Credit Suisse, DBS and Citigroup Global Markets Limited on the THB 13,000 million (approximately USD 400 million) initial public offering by Bangkok Airways, a full service boutique airline, airport operator and airport services provider in Thailand. Weerawong C&P also advised on the sale of secondary shares by a shareholder of Bangkok Airways. 

The initial public offering comprises a domestic offering under Thai SEC regulations and international offering under Regulation S of the US Securities Act. The transaction is the largest listing of shares on the Stock Exchange of Thailand in 2014 to date. The transaction closed on October 28, 2014. The shares started trading on the Stock Exchange of Thailand on November 3, 2014.

The Weerawong C&P team included leading partner Peangpanor Boonklum and associates Patcharaporn Pootranon and Trinuch Chuenchomlada.

Weerawong, Chinnavat and Peangpanor Ltd. advised Rexel General Supply and Services (Thailand) Co., Ltd. on its second acquisition in Thailand, 4 Knights International Co., Ltd. which holds a leading position in the downstream oil and gas onshore sector with branches in Bangkok and Rayong, key regions for onshore activities, for the sum of THB  253.8 million. The transaction reinforces Rexel’s position in the oil and gas sector and strengthens the group’s presence in South-East Asia.

The Weerawong C&P team included leading partners Peangpanor Boonklum, Pakdee Paknara and associates Panuwat Chalongkuamdee and Woramon Kengtanomsak.

Weerawong, Chinnavat & Peangpanor acted as Thai counsel for Bangkok Dusit Medical Services Public Company Limited, Thailand’s largest medical services network and a leading healthcare provider, on the offering and issuance of THB 10 billion USD-settled convertible bonds. This transaction is the first Thai Baht-denominated zero-coupon convertible bond issued by a Thai issuer. The deal size is THB 10 billion, approximately USD 311 million. The offering was made under Regulation S to investors outside Thailand and the United States. The bonds are listed on the Singapore Exchange Securities Trading Limited. The transaction closed on 18 September 2014. Bank of America Merrill Lynch, Credit Suisse, Phatra Securities and The Siam Commercial Bank acted as joint bookrunners and joint lead managers for this transaction.

Partners Peangpanor Boonklum and Veeranuch Thammavaranucupt led the transaction.

Weerawong, Chinnavat and Peangpanor Ltd. advised Sub Sri Thai PCL, the owner of the famous Greyhound cafes in Thailand and Hong Kong and exclusive franchisee of Au Bon Pain, Dunkin’ Donuts and Baskin-Robbins in Thailand on the sale of its 99% share stake in Industrial Enterprise Co., Ltd. to Sime Darby Plantation Europe Ltd. and Sime Morakot Holdings (Thailand) Ltd. The sale of the cooking oil manufacturing company closed at THB 815 million on September 11, 2014.

The transaction was led by Pakdee Paknara, Partner, Panuwat Chalongkuamdee and Yaowarote Klinboon, Senior Associate including Thitawan Thanasombatpaisarn, Associate.

Weerawong C&P represented Thanachart Bank Public Company Ltd in respect of a THB2.1 billion (USD65.65m) credit facility and THB2.38 billion (USD74.4m) IRS and F/X facility granted to AIF Toll Road Holdings (Thailand) Ltd, a major shareholder of Don Muang Toll Way Plc, for the company's capital restructuring.

Passawan Navanithikul, Partner led the transaction including Nattaporn Pengkul, Senior Associate. 
 

Weerawong C&P has acted as Thai counsel for Thai consumer conglomerate Berli Jucker Public Company Ltd in respect of the EUR 655 million (USD864.4m) acquisition from Metro Cash & Carry International Holding BV of METRO Cash & Carry Vietnam Ltd, the biggest foreign-owned player in Vietnams modern grocery market and a leading player in Vietnams modern grocery market with 19 cash & carry stores across 14 cities.

Weerawong Chittmittrapap and Troy Schooneman, partners lead the transaction with the senior associates, Jeffrey Sok and Yaowarote Klinboon.

Weerawong C&P advised Global Power Synergy Company Limited (GPSC), an investment arm of PTT Plc, on GPSC's first offshore venture capital transaction in a strategic investment of USD 15 million in 24M Technologies Inc, a start up venture and new business model for energy storage in the U.S. Other strategic investors included Kyocera Corporation and IHI Corporation, and venture capital investors Charles River and North Bridge Venture Partners.

Partner Passawan Navanithikul and Senior Associate Panuwat Chalongkuamdee advised GPSC.

Weerawong, Chinnavat & Peangpanor Ltd. advised Thanachart Bank Public Company Limited, a leading commercial bank in Thailand, in connection with the first Tier 2 convertible debentures issuance in the Kingdom of Thailand, valued at THB 13 billion. These convertible debentures will be used by Thanachart Bank for its Tier 2 regulatory capital purposes and will complement Thanachart Bank’s ability to meet the capital adequacy requirements of the Bank of Thailand in accordance with the framework and guidance of the Basel III Accord.  Thanachart Bank also acts as an underwriter.

The convertible bonds have been issued to qualified institutional investors and high net worth individuals in accordance with the applicable regulations of the Thai Securities and Exchange Commission.  As it is the first of its kind in Thailand for domestic Basel III Tier 2 convertible debentures (without written off/down feature), the Thanachart deal will clear the way for other Thai banks to follow suit.

Partners Peangpanor Boonklum and Veeranuch Thammavaranucupt led the transaction.

Weerawong, Chinnavat & Peangpanor Ltd. has advised SPCG Public Company Ltd, a pioneer solar farm and solar roof developer in Thailand, in respect of the sale through private placement of its approximately 84 million shares representing 10 percent stake to Gulf Energy Development Company Ltd, one of Thailands largest independent power-producer groups. This is an opportunity for SPCG to lower its financial costs due to the good relationship of Gulf Energy with its overseas creditors. The transaction which was executed on 6 June 2014.

Partner Kudun Sukhumananda led the transaction including associates Sawita Peetawan.

Weerawong, Chinnavat & Peangpanor Ltd. has represented Great Pacific Properties Ltd, a subsidiary of TCC Land International Ltd, and its affiliates in the USD 818 million financing transaction with Sumitomo Mitsui Banking Corp in the establishment of the newly incorporated Thai property fund, Thai Hotel Investment Freehold and Leasehold Property Fund, for real estate properties in prime tourist areas in Bangkok and other provinces, such as Phuket, Samui and Chiang Mai.

Partner Passawan Navanithikul led the team, including associates Nattaporn Pengkul and Jarirat Chevangkul.

Weerawong C&P represented Toyo-Thai Corporation PCL (TTCL) in obtaining project financing of USD100 million from EXIM Bank for the development of a 120MW combined-cycle gas-turbine power plant project in Yangon. The transaction is the first of its kind in Thailand and Myanmar.

This is also the first private sector project financing in Myanmar for the Export-Import Bank of Thailand. Toyo-Thai is an integrated engineering procurement and construction business listed in Thailand - the Myanmar unit will receive the loan directly from EXIM Bank. Toyo-Thai (Singapore) has guaranteed the loan and provided a share pledge to secure the repayment.

This project paves the way for other Thai companies for the development of the plant in Myanmar.  The signing ceremony was on May 28, 2014 in Bangkok.

Partner Kudun Sukhumananda led the team, including senior associate Nattaporn Pengkul.

Weerawong, Chinnavat & Peangpanor Ltd. represented certain major shareholders of Master Ad Public Company Limited (MACO), Thailand’s largest outdoor media provider, on the sale of their 24.43% stake or 73.5 million shares worth THB 661.5 million to VGI Global Media Public Company Limited (VGI) through big lot trading. VGI is Thailand's largest transit-media provider and a unit of the BTS Group. This deal increases the media alternatives and reach of the out-of-home media networks of both MACO and VGI.

The deal was executed on May 12, 2014.
Partners Pakdee Paknara and Veeranuch Thammavaranucupt and associate Kongkoch Yongsavadikul were the transaction team.
 

Weerawong, Chinnavat & Peangpanor Ltd. represented Srisawad Power 1979 Public Company Limited (SAWAD), a major consumer finance company in Thailand, on its corporate restructuring and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 250 million shares for a total offering size of THB 1.73 billion (USD 57.7 million approximately). Asia Plus Advisory Company Limited acted as financial adviser and lead underwriter. KT Zmico Securities, Kasikorn Securities, CIMB Securities and Finansia Syrus Securities are co-underwriters.  Commencement of trading on the SET was on 8 May 2014.

Partner Kudun Sukhumananda led the legal team with Ekachai Chotipitayasunon, Sawita Peetawan, Poonsook Pornpathanangoon and Woramon Kengtanomsak.
 

Weerawong, Chinnavat & Peangpanor Ltd. represented Kaset Thai International Sugar Corporation (KTIS), Thailand’s third largest sugar producer, on its corporate restructuring, and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 957 million shares for a total offering size of THB 9.57 billion (USD 319 million approximately) to construct new plants to serve the growth of global demand. Kasikorn Securities acted as financial adviser, KT Zmico Securities and Maybank Kim Eng Securities acted as lead underwriters.

Commencement of trading on the SET was on 28 April 2014.

The project team was led by Kudun Sukhumananda, partner which also included Ekachai Chotipitayasunon-senior associate, Tuangrat Mingviriya, Sawita Peetawan and Woramon Kengtanomsak as a team member.

Weerawong, Chinnavat & Peangpanor Ltd. represented P.C.S. Machine Group Holding Plc, holding company having main business of manufacturing and sale automotive parts, on its corporate restructuring, and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 389 million shares for a total offering size of THB 3,345.4 million (USD111.5 million approximately).

Bualuang Securities acted as a financial adviser and joint-lead underwriter with SCB Securities. The trading date on the SET was on 14 March 2014.

The project team was led by Peangpanor Boonklum, Partner which also included Patcharaporn Pootranon as a team member.
 

Weerawong, Chinnavat & Peangpanor Ltd. advised PTT Public Company Limited (PTT) in the sale of its 45% stake in Vietnam LPG Company Limited (VLPG) to joint venture partner PetroVietnam Southern Gas Joint Stock Company (PVGAS South). VLPG engages in the supply, storage, filling plant operations, sale and marketing of liquefied petroleum gas as a subsidiary of PVGAS South.

In a filing to the Stock Exchange of Thailand, PTT notes, “The sale of PTT's entire stake in VLPG is in line with PTT Group's restructuring policy and such sale does not affect the international expansion of its oil business and the PTT Group.”

A capital transfer agreement between PTT and PVGAS South was executed on February 12, 2014.

Peangpanor Boonklum was a leading partner in this transaction and the team, including associates Wiriya Chinkarn, Rapat Sangkarat and Wassamon Lohachitramond.

Weerawong, Chinnavat & Peangpanor Ltd. represents Bangkok Bank Public Company Limited and KASIKORNBANK Public Company Limited in the THB 7.74 billion credit facilities provided to True and TNN in connection with licenses for 2 of 24 highly anticipated new digital TV channels in Thailand

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) represented Bangkok Bank Public Company Limited and KASIKORNBANK Public Company Limited in the THB 7.74 billion credit facilities provided to True DTT Company Limited (True) and Thai News Network Company Limited (TNN) in connection with licenses for 2 of 24 highly anticipated new digital TV channels in Thailand.

The WC&P team was led by Passawan Navanithikul, Partner and included  Sunyaluck Chaikajornwat and Nattaporn Pengkul.
 

Weerawong, Chinnavat and Peangpanor Ltd. represented Mr. Suchad Chiaranussati on a joint venture with GP Holding Pte. Ltd. and the exclusive licensing agreement with Garrett Licensing LLC for the opening of the Chicago-based premium popcorn store, Garrett Popcorn at Siam Paragon Shopping Complex.

Chinnavat Chinsangaram was a leading partner in this transaction included with Panuwat Chalongkuamdee and Woramon Kengtanomsak, the associates.
 

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised Bank of America Merrill Lynch and Phatra Securities Pcl on the issuance and offering of USD 290.4 million 0.5 per cent exchangeable bonds due in 2019. The bonds were issued by CP Foods Holdings Limited (CPFH), a subsidiary of Charoen Pokphand Foods Pcl (CPF), Thailand’s largest agribusiness conglomerate.

The bonds are listed on the Singapore Exchange Securities Trading Limited and are exchangeable into shares of CP All Pcl, Thailand’s largest convenience store operator. They come with a sponsor undertaking from CPF.  The transaction closed on January 15, 2014.

This exchangeable bond with sponsor undertaking is the first-of-its-kind in Thailand.
The Weerawong C&P team included leading partners Peangpanor Boonklum, Veeranuch Thammavaranucupt and associate Chumpicha Vivitasevi.
 

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised The Siam Commercial Bank PCL (SCB), one of the country’s largest and most venerable financial institutions in respect of the sale of its 60.86% equity stake in The Siam Commercial Samaggi Insurance PCL (SCSMG), a major general insurance company in Thailand to ACE Group, a global insurance and financial services firm based in the US.

This transaction presents an excellent opportunity for ACE to further build their business in this fast-growing market by expanding their presence in personal and small commercial insurance. SCB and ACE Group have reached a conditional agreement on January 13, 2014 for the sale of the equity stake at THB 3.74 billion (approximately USD113 million). The transaction as contemplated by the agreement will likely be completed in the second quarter of 2014.

Weerawong Chittmittrapap was a leading partner in this transaction with Samata Masagee, Panuwat Chalongkuamdee and Wiriya Chinkarn, the associates.
 

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Rexel Group, a global leader in the distribution of electrical supplies, on the acquisition of the business and assets of Quality Trading Group, one of the largest electrical distributors in Thailand. The transaction closed on November 29, 2013 and is valued at approximately USD 20 million.

Pakdee Paknara, Partner, led the project team, which also included Associates Panuwat Chalongkuamdee, Pratumporn Somboonpoonpol, and Jarirat Chevangkul.

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P), represented Amata B. Grimm Power Co., Ltd. and Kasikorn Asset Management Co., Ltd. on the initial public offering and listing of units on the Stock Exchange of Thailand (SET) of Amata B. Grimm Power−Power Plant Infrastructure Fund (ABPIF). This was Thailand’s first power plant infrastructure fund.

Amata B. Grimm Power Co. Ltd., the majority unit holder in the fund, is the leading Small Power Producer (SPP) in Thailand, and is principally owned by the local trading conglomerate B. Grimm. The offering involved 600 million shares set at THB 10.50 per share, and was valued at up to USD 203 million (THB 6.3 billion). Kasikorn Asset Management Co., Ltd. acted as fund manager and KASIKORNBANK Pcl. as underwriter. The IPO started trading on the SET on September 27, 2013.

The WC&P project team was led by Kudun Kukhumananda, Partner, and included Associates Nattaporn Pengkul, and Mayuree Sapsutthiporn.
 

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P), represented PACE Development Corporation Public Company Limited, a major high-rise and luxury property developer in Thailand, on their IPO and listing of investment units on the Stock Exchange of Thailand (SET).  The offering involved 600 million shares set at THB 3.5 per share, and was valued at up to USD 70 million (THB 2.1 billion). Asia Plus Securities Plc., Country Group Securities Plc., and SCB Securities acted as its lead underwriters with 7 co-underwriters namely, Globlex Securities, KGI Securities (Thailand) Plc, CIMB Securities (Thailand), Capital Nomura Securities Plc, Thanachart Securities Plc, Bualuang Securities Plc., and Finansia Syrus Securities Plc. The IPO started trading on the SET on August 7, 2013.

The project team was led by Peangpanor Boonklum, Partner which also included Kom Vachiravarakarn, Senior Associate, Sawita Peetawan, and Trinuch Chuenchomlada, Associates, 

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P), represented Ananda Development Public Company Limited on an offering of unsecured and unsubordinated debentures, valued at up to USD 100 million (THB 3 billion), in which Bualuang Securities Public Company Limited, CIMB Thai Bank Public Company Limited acted as arrangers, and Asia Plus Securities Public Company Limited acted as co-manager. The transaction closed on July 4, 2013.

The project team was led by Peangpanor Boonklum, Partner, and also included Jongtip Tangsripairoje, Senior Associate, and Chumpicha Vivitasevi, Associate.

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented The Erawan Group, The Siam Commercial Bank, and SCB Asset Management on the IPO and listing of investment units in Erawan Hotel  Growth Property Fund (ERWPF) on the Stock Exchange of Thailand. The transaction closed on April 4, 2013 and was valued at US$63.2 million (approximately). The ERWPF invested on a freehold right basis in the Ibis Patong Hotel in Phuket, and the Ibis Pattaya Hotel in Chonburi,Thailand. Both hotels have guest capacity in excess of 250 rooms. The Siam Commercial Bank acted as underwriter for the transaction which consisted of an offering of 176 million investment units. SCB Asset Management acted as fund manager.

Kudun Sukhumananda, Partner, led the project team, which also included Associates; Samata Masagee, Mayuree Sapsutthiporn, Thitiporn Chaowasakoo, Real Estate Specialist, Chusak Suwanpuchai and legal Assistant Anusith Doungjai.
 

Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Joseph Hsu and Gertjan Tomassen, the management of Bangkok Ranch, and a group of investors on share acquisition in Bangkok Ranch, one of the world’s leading suppliers of premium quality duck meat products. Weerawong C&P also advised on financing for the transaction from Bangkok Bank and The Siam Commercial Bank. The transaction involved a management buyout (by a consortium of management and a group of investors), and financing through a leveraged buyout, including, (i) structuring a shareholders’ agreement among management and investors, (ii) advising on the financing and leveraged buyout, and (iii) advising on the Share Purchase Agreement (SPA). The SPA mandated restructuring of the seller’s group and spin-off of certain businesses. The transaction is valued at US$190 million (approximately), and closed in December 2012.

Pakdee Paknara, Partner, led the project team which also included Partner, Passawan Navanithikul, and Associates; Pathamakorn Buranasin, Karnpitcha Kongkiattiwong, Samata Masagee, Wiriya Chinkarn, Pratumporn Somboonpoonpol, Wittaya Kaewkungsadan, Jarirat Chevangkul, and Chusak Suwanpuchai, Real Estate Specialist.

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) advised PTT Exploration and Production Pcl. (PTTEP) on its share offering – the largest equity offering by a Thai company to date, which closed on December 17, 2012.  The transaction included a public offering under Thailand’s Securities and Exchange Commission regulations, and an international offering under Rule 144A/Regulation S under the U.S. Securities Act. The deal is valued at US$3 billion (THB 92.3 billion), approximately.

The offering was made to PTTEP’s existing shareholders and institutional investors. Its parent company, PTT Plc. also subscribed to maintain its 65% shareholding. Finansa Securities Ltd., Phatra Securities Plc., TISCO Securities Co., Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, JP Morgan and UBS acted as joint global coordinators and bookrunners.

Peangpanor Boonklum, Partner led the project team, along with Chatri Trakulmanenate, Partner. The team also included Associates, Patcharaporn Pootranon, Aimsarin Jirasatapananon, Sawita Peetawan, Poonsook Pornpathananagoon, and Wassamon Lohachitranond.

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) advised Sahaviriya Steel Industries Pcl., Thailand’s first and largest manufacturer of hot-rolled steel sheet foils, on its capital increase by issuing up to 19 billion new shares to be allotted via private placement and rights offerings. The deal value is US$388 million (THB 11.66 billion), approximately, and is part of the company’s comprehensive financial structuring plan. Shareholders approved the transaction in October 2012, and the offering and closing were implemented from then through present.

Peangpanor Boonklum, Partner led the project team which included, Paradorn Leosakul, Counsel, Karnpitcha Kongkiattiwong, Senior Associate, and Sawita Peetawan, Associate

Weerawong, Chinnavat & Peangpanor (WC&P) advised Ananda Development Pcl. on its initial public offering (IPO) and offering of existing shares in Thailand, and on the international offering under Regulation S. Barclays Bank Plc., CIMB Bank (L) Ltd., and CLSA Singapore Pte. Ltd., acted as international managers, while Bualuang Securities Plc., and KT ZIMCO Securities Plc. acted as underwriters. The deal closed on December 4, 2012, and is valued at US$185 million (THB 5.6 billion), approximately.

Peangpanor Boonklum, Partner led the project team along with Chatri Trakulmanenate, Partner. The team also included Senior Associates, Sunyaluck Chaikajornwat, Jongtip Tangsripairoje, and Pathamakorn Buranasin, along with Associates, Ekachai Chotpitayasunon, Trinuch Chuenchomlada, and Sawita Peetawan.

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) advised Phatra Securities Pcl., Merrill Lynch Far East Ltd., CIMB Bank (L) Ltd., Citigroup Global Markets Ltd., and The Hongkong and Shanghai Banking Corporation (Singapore) as book runners, on the capital increase via preferential public offering (to existing unit holders of the Fund) and listing of additional units in the Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF), on the Stock Exchange of Thailand. The deal closed on December 3, 2012, and is valued at US$251.5 million (THB 7.545 billion), approximately. This is an add-on offering for TLGF after its IPO of US$598 million (THB 18 billion), approximately, in March 2012 – Thailand’s largest ever property fund IPO on which WC&P also advised domestic and international book runners. 

Kudun Sukhumananda, Partner, led the project team. The team also included Associates, Kom Vachiravarakarn, Tuangrat Mingviriya, Mayuree Sapsutthiporn, and Chusak Suwanpuchai, Real Estate Specialist.

Weerawong, Chinnavat & Peangpanor Ltd. represented WHA Corporation Pcl., a leading developer of logistics centers, on its corporate restructuring and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The company  listed and started trading on  November 8, 2012, with an initial market capitalization price of THB 6.76 billion (approx. US$218 million). Of the 510 million listed shares, 380.60 million were existing and 129.40 million newly-issued.

Siam Commercial Bank Pcl. acted as financial advisor, Kasikorn Securities Pcl. as financial advisor and underwriter, while SCB Securities Co. Ltd. was also an underwriter.

Kudun Sukhumananda, Partner, led the project team which also included Yaowarote Klinboon, Senior Associate, Kom Vachiravarakorn,  Associate, Kongkoch Yongsavasdikul, Associate and, Sawita Peetawan, Associate.

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) represented VGI Global Media, Thailand’s largest ‘Out-of-Home’ media company, on its initial public offering (IPO), in addition to advising on the company’s corporate restructuring and share listing on the Stock Exchange of Thailand (SET). The company floated 88 million shares in its Baht 3 billion (US$100 million approx.) IPO, and Bualuang Securities acted as underwriter, with TISCO Securities as financial advisor and underwriter for the transaction. The IPO closed on October 4, 2012.

VGI is a subsidiary of the Bangkok Mass Transit System Co. Ltd. (BTSC), sole-concessionaire to the core network of the BTS Skytrain in Bangkok.  Importantly, VGI is also the media and advertising company for the BTS Group, Thailand’s leading provider of mass transit solutions, and as such manages all advertising on the BTS Skytrain – ad space of 27,000 square meters at 23 stations and on 47 trains. Through its affiliation with the BTS Group, VGI also manages advertising at major retailers and commercial buildings across Bangkok.

Peangpanor Boonkulm,  Executive Partner, led the project team which also included Paradorn Leosakul,  Counsel, Yaowarote Klinboon, Senior Associate, Kom Vachiravarakorn,  Associate, and Pratumporn Somboonpoonpol, Associate.
 

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) represented Recap Investments Pte. Ltd. (Recap) on a multi-phased transaction which initially resulted in execution of a sales and purchase agreement between Recap and Outrigger Global Holdings (Outrigger) on July 24. Recap agreed to sell Laguna Beach Resort in Phuket to Outrigger Global Holdings for approximately US$118 million. The location of Laguna Beach Resort is significant, as it is in the 1,000-acre Laguna Phuket integrated resort area, one of Asia’s best holiday destinations.

The transaction is also significant from a legal perspective because it was structured to incorporate the ‘entire business transfer’ concept, where the entity that transfers the assets will be required to be dissolved within the same fiscal year as the transfer. This structure allows the transaction to be exempted from certain taxes, thus also reducing transaction costs.

Chinnavat Chinsangaram, Executive Partner led the project team, with strong support from Pakdee Paknara, Partner, Joseph Merling, Senior Associate, Pathamakorn Buranasin, Senior Associate, Sunyaluck Chaikajornwat, Senior Associate, Anusith Doungjai, Associate and Ravipat Mullijarupongs, Associate.

Weerawong, Chinnavat & Peangpanor Ltd. (WC&P) represented Kiatnakin Bank Pcl. (Kiatnakin) on its merger with Phatra Capital Plc. (Phatra), a securities company listed on the Stock Exchange of Thailand (SET). The merged entity, Kiatkakin-Phatra Financial Group, will offer both commercial banking and capital-market products and services.

Legal aspects of the transaction included advising on: (i) acquisition of existing and newly issued shares of Phatra via a share swap and a tender offer for all securities, which on closure, gave Kiatnakin 99.928 percent of Phatra, (ii) drafting, negotiating and commenting on the share purchase and shareholders’ agreements, (iii) advising Kiatnakin on the tender process, and (iv) delisting Phatra’s shares from the SET. The deal is valued at approximately Baht 6.2 billion (US$207 million).

WC&P continues to work on the transfer of Kiatnakin Securities and Kiatnakin Fund Management to Phatra.

Peangpanor Boonklum, Executive Partner led the project team, which also included Paradorn Leosakul, Counsel, and Pathamakorn Buranasin, Senior Associate.