Mergers & Acquisition

We are highly recognised for our Mergers & Acquisitions (M&A) expertise. In our M&A practice, we guide clients through every aspect of the transaction with sophisticated and thorough advice. We have strong experience in structuring deals, negotiating and executing transactions. Our clients find our pre-transaction structuring advisory particularly valuable. We have advised multinationals, investment funds, private equity funds, venture capitalists, strategic investors, investment banks and government linked companies and public listed companies on all types of M&A transactions.

Our M&A lawyers have been actively involved in a broad range of both local and cross-border transactions, such as:

• Joint ventures
• Share and business acquisitions and disposals
• Corporate reorganisations
• Internal restructuring
• Divestments
• Privatisations
• Mergers
• Leveraged buyouts
• Schemes of reconstruction and amalgamation
• Capital restructuring
• Private equity investments

Our clients particularly appreciate our insight into the legal and regulatory requirements, due diligence, document preparation (joint venture, share sale, shareholders agreement and other transaction agreements) and relevant implementation processes (including liaising with government agencies and regulators).

• Advising the acquisition of an oncology centre of a major hospital in Malaysia by a Singapore based multinational private equity group, as well as on the relevant rules and regulations on the licensing requirements and the foreign equity restrictions (Ongoing).

• Advising one of the world leading manufacturers of disposable lighters on its joint venture in Malaysia to distribute its products in Malaysia and in the region, as well as on the relevant rules and regulations on the licensing requirements and the foreign equity restrictions (Ongoing).

• Acting and advising one of the top four global players in the pest control market by revenue, and is the leading player in the digitally-enabled pest control market based on the number of reported installations of digitally-enabled pest control units in 2021 on the proposed acquisition of customer lists, assets, operating equipment, businesses and key employees of 2 Malaysian pest control companies (Ongoing).

• Advising a Malaysian convenience store chain owner operator with several hundred retail outlets on its proposed internal restructuring and proposed joint venture and divestment of an equity stake to a Singapore private equity fund (Ongoing).

• Advised Sime Darby Property Berhad on its acquisition of the entire issued and paid-up share capital in each of SDM Assets I Sdn. Bhd. And SDM Assets V Sdn. Bhd. for RM88.2 Million and RM32.2 Million respectively from Sime Darby Property MIT Development Sdn. Bhd. (a joint venture company between Sime Darby Property Berhad and Japan’s Mitsui & Co., Ltd. and Mitsubishi Estate Co.’s Malaysian subsidiary).

• Advised ISEMS Global Pte. Ltd. on its Malaysian joint venture. 

• Advised the Pacific Alliance Group on its USD16.1 Million acquisition of, inter alia, the entire issued and paid-up share capital of a Malaysian aluminium die-casting manufacturing company.

• Advising Permodalan Nasional Berhad, one of the largest fund management company in Malaysia owned by the Malaysian government with assets under management (AUM) of RM343.1 billion (as at 30 November 2022) on a RM73 billion proposed merger between Malaysian Industrial Development Finance Berhad and its group of companies and MBSB Bank Berhad banking group. 

• Advising on a proposed divestment exercise by UEM Edgenta Berhad of its subsidiary group of companies (whether by way of asset or share sale), via a tender exercise (Ongoing).

• Advising a Malaysian company on the proposed disposal of its subsidiary to a member of a Malaysia public listed company group and a proposed acquisition of a 30% equity stake in a company which is a member of a Malaysia public listed company group that carries on business in the renewable energy industry (Ongoing).

• Advising on the set-up of a joint-venture company between 2 listed entities for the purpose of providing specialized advice to the Government on national security matters.

• Advised a multinational foreign entity in relation to its proposed purchase of a controlling stake in a Malaysian insurance company and its application to Bank Negara Malaysia, the Central Bank of Malaysia for approval and their joint venture/shareholders agreement and transaction agreements.

• Advised two consortiums of multinational companies and a Malaysia conglomerate on their successful applications for a Digital Banking Licence including on the requirements of Bank Negara Malaysia, the Central Bank of Malaysia policy documents and the application guidelines and their joint venture/shareholders agreements, business plans and other transaction agreements and liaison with the Central Bank of Malaysia.

• Advised on the RM85 million acquisition by Kumpulan Perangsang Selangor Berhad, the investment arm of the State Government of Selangor, of the entire equity interest of MDS Advance Sdn Bhd.

• Advised a public listed company and their partners on the setting up of a joint venture to cooperate exclusively with each other by combining their expertise and resources to engage in the business of a digital bank.

• Advised Permodalan Nasional Berhad, one of the largest fund management company in Malaysia owned by the Malaysian government with assets under management (AUM) of RM343.1 billion (as at 30 November 2022) and MIDF on the proposed RM2.4 billion merger between the MIDF group of companies and Al-Rajhi Bank Malaysia banking group.

• Advised ENRA Group Berhad on a proposed acquisition of certain assets from a maintenance, repair and overhaul service provider, primarily servicing the defence industry’s vessels and vehicles in the area of marine propulsion and power systems.

• Advised ENRA Group Berhad on a divestment of its subsidiary group of companies which are in the business of supplying and trading of specialty chemicals, catalysts and absorbents, by way of a share sale.

• Advised a Malaysian company which manufactures solar panels and constructs solar farms, plants and equipment for the production and generation of renewable energy on a disposal of its 51% interest in shares in a company which carries on the business of installation and servicing of solar photovoltaic systems, renewable energy project management, consultancy and construction, electrical works and other ancillary businesses.

• Advised a Malaysian public listed company group of companies on a joint venture to establish a joint venture company to bid for the provision of Project Management Consultancy (PMC) Services in relation to the Projek Mass Rapid Transit Laluan 3: Laluan Lingkaran (MRT 3).

• Advised the founders of a Malaysian co-working space operator on a proposed disposal of their entire equity stake to an international co-working space operator.

• Advised a Malaysian public listed company on a joint venture with a Chinese construction company whose shares are traded on the Shanghai and Hong Kong stock exchanges to negotiate, execute and perform the contracts in relation to the Projek Mass Rapid Transit Laluan 3: Laluan Lingkaran for Elevated Civil Works and Stations for the MRT 3 Project.

• Advised Qatar Islamic Bank, Financial Assets Bahrain WLL, RUSD Investment Bank Inc and Tadhamon International Islamic Bank on the RM650 million merger between Asian Finance Bank Berhad and Malaysia Building Society Berhad (IFN Deal of the Year 2018).

• Advised Impiro Pte Ltd, Singapore on the disposal of Silverstreet International Pte Ltd, Labuan, to Soprano Design Pty Ltd, Australia.



• Advised on restructuring and merger of 3 group companies, MCC Labels (Kuala Lumpur) Sdn Bhd, MCC Labels (Balakong) Sdn Bhd and MCC Labels (Rawang) Sdn Bhd to bring together all the 3 companies operating at 3 different sites into one company MCC Labels (Kuala Lumpur) Sdn Bhd and one site.

• Advised Malaysian Phosphate Addictives Sdn. Bhd. on its RM500 Million joint venture with Cahaya Mata Sarawak Berhad, a Sarawak Government linked company for the setting up and financing of manufacturing plants in Samalaju Industrial Park for the manufacture of Yellow Phosphorus, Technical grade and Food grade phosphoric acid, Coke, Ammonia, Technical grade MKP, DKP, Technical grade MAP, DAP, DCP, MDCP, Merchant grade phosphoric acid and Fertilizer grade DAP, MAP and other related phosphorus products.

• Advised Sapura Energy Berhad, Malaysian’s largest oil and gas services company listed on the Malaysian stock exchange, on its US$2.9 billion acquisition of the tender rig business of Seadrill Ltd, one of the largest deep water driller companies in the world listed on the New York and Oslo stock exchanges, to become one of the world’s largest tender rig owners and operators (Asian Legal Business M&A Deal of the Year).

• Advised Sapura Energy Berhad on the proposed acquisition by a Bahamian incorporated subsidiary of Sapura Energy of the entire issued and outstanding common shares of Newfield Malaysia Holding Inc, a company which has equity interest in 8 Production Sharing Contracts (PSCs) and one alliance contract in Peninsular Malaysia, Sabah and Sarawak, for a total purchase price of US$898 million in respect of compliance with the Main Market Listing Requirements and existing financing documents.

• Advised Sapura Energy Berhad on its RM1 Billion cross border joint venture with Acergy Ms Limited for the construction and operations of Sapura 3000 deep water dynamically positioned pipe laying derrick vessel and disposal of interest in Labuan offshore special purpose subsidiary Sapura Acergy Assets Pte Ltd. to joint venture partner Acergy MS Limited.

• Advised KNM Group Berhad on its AED200 Million cross-border acquisition of FBM-Hudson FZCO, Jebel Ali, Dubai, a major GCC manufacturer of oil and gas industry coolers, boilers and process equipment.

• Advised KNM Group Berhad on its €100 Million cross-border acquisition of FBM-Hudson Italiana SpA, Italy, a major European manufacturer of oil and gas coolers, boilers and process equipment.

• Advised Aerosun Corporation, China, which is listed on the Shanghai stock exchange on its acquisition of a major stake in a Malaysian petrochemical company.

• Advised Malaysian Agrifood Corporation Berhad, a subsidiary of Khazanah Nasional Berhad on the acquisition of Monoluxury Sdn Bhd, a large glasshouse company involved in the production of fresh salads and herbs, which has been done in collaboration with University Putra Malaysia and marketed under its brand name of Genting Garden and house brands of its large customers.

• Advised Pacific Century Group, a major Asia-based private investment group with interests in technology, media and telecommunications, financial services, infrastructure, property and other investments mainly in the Asia-Pacific region on its bid for the acquisition of the Malaysian AmLife and AmTakaful insurance groups.

• Advised Tropicana Corporation Berhad, a company listed on the Malaysian stock exchange on the MYR200 million sale of its controlling stake in a leading explosives, detonators and fuse manufacturer and blasting solutions provider, to Austin Powder USA.

• Advised Asian Plantations Limited, a Singapore-incorporated plantation company that is listed on the Alternative Investment Market (AIM) of the London stock exchange and owner of 60,840 acres of oil palm plantations through its five wholly-owned estates within Miri and Bintulu, Sarawak on the GBP120 Million (RM628 Million) takeover by Felda Global Ventures Holdings Berhad, a Government linked company listed on the Main Market of the Malaysian stock exchange.

• Advised Sapura Resources Berhad on the acquisition of 2 aviation companies DNest Aviation Services Sdn. Bhd. and DNest Aviation Training Centre Sdn. Bhd. that owns MRO hangars and facilities at Subang International Airport.

• Advised a foreign bidder in its bid for the Makro Supermarket business in Malaysia.

• Advised Sungei Wang Group on the proposed disposal of its money lending arm Ikhlas Al-Dain Sdn Bhd. 

• Advised Qatar Islamic Bank, the world’s largest Islamic Bank on the proposed sale of a controlling stake in Asian Finance Bank. 

• Advised Sungei Wang Group, a major Malaysian investment group on the acquisition of Ikhlas al-Dain Sdn Bhd a factoring and money lending company.

• Advised CIMB Bank Berhad, one of the largest Malaysian banks on its joint venture with Paypal.

• Advised GPL Remittance on the acquisition of a remittance company in Malaysia and related restructuring.

• Advised Hong Leong Bank Berhad, a major Malaysian bank on the acquisition of the assets and liabilities of EON Capital Berhad, a major Malaysian financial institution.

• Advised Jerneh Insurance Berhad on its acquisition of the entire issued and paid up share capital of Paramount Assurance Berhad and merger of the general insurance businesses of Jerneh Insurance Berhad and Paramount Assurance Berhad. 

• Advised BSN Merchant Bank Berhad on its merger with Perwira Affin Merchant Bank Berhad. 

• Advised Hong Leong Bank Berhad on its merger with Credit Corporation (M) Bhd. 

• Advised Multi Purpose Holdings Berhad on its RM1.5 Billion acquisition of Magnum Corporation Berhad.

• Advised the major shareholders on the takeover of Computer Systems Advisers (M) Berhad.

• Advised the major shareholders on the privatisation of Computer Systems Advisers (M) Berhad.

• Advised MTD Capital Berhad on its RM150 Million cross-border acquisition of Cigading Port Indonesia special purpose vehicle.

• Advised Barings Private Equity on the RM500 Million Cross-border Multi-Jurisdictions Reverse Takeover of listed Courts Mammoth Berhad, Courts (Singapore) Limited, Courts Mammoth Philippines and listed Courts Plc, UK.

• Advised eXair Communications Inc, a US and Germany dual-listed company on its RM100 Million Cross-border Reverse Takeover of E-Gal Holdings Limited, a BVI holding company.

• Advised Sapura Group on its RM10 Billion first Malaysian Government telecommunications private finance initiative (PFI) funded concession and privatisation project for a nationwide government integration radio network.

• Advised Showa Rubber Co Ltd., one of the world’s leading companies in rubber manufacturing and Japan’s oldest company listed on the Tokyo stock exchange on its RM200 Million cross border acquisition of Toyo Rubber Malaysia.

• Advised Singapore Aerospace Manufacturing Pte Ltd (a subsidiary of Temasek Holdings Singapore, a Singapore Government sovereign fund) on its cross-border acquisition of Upeca Aerotech Sdn Bhd.

• Advised Singapore Precision Engineering Ltd, a wholly-owned unit of Singapore Aerospace Manufacturing Pte Ltd (both subsidiaries of Temasek Holdings Singapore, a Singapore Government sovereign fund) on its cross-border takeover of LKT Industrial Berhad and Malaysian, Singaporean and Thai subsidiaries.

• Advised UMW Corporation Sdn Bhd, a wholly-owned unit of UMW Holdings Berhad, on its acquisition of Coldfusion Engineering Sdn Bhd.

• Advised LOTTE Co. Ltd. Japan, one of the world’s largest confectionary company, on its RM150 Million cross-border acquisition and joint venture with Lotte Confectionery Co. Ltd. Korea in respect of Lotte (Malaysia) Sdn. Bhd.

• Advised Khazanah Nasional Berhad on the proposed reorganization and disposal of an equity stake in Asia Capital Reinsurance Malaysia Berhad and Avicennia Capital Sdn Bhd.

• Advised MMC Corporation Berhad, a multinational company listed on the Main Market of the Malaysian stock exchange on its RM9.3 Billion takeover of Malakoff Berhad, a company listed on the Main Market of the Malaysian stock exchange and the largest independent power producer in Malaysia.

• Advised IJM Corporation Berhad on its RM5.6 Billion takeover of Road Builder Holdings Berhad.

• Advised Singapore Aerospace Manufacturing Pte Ltd and Singapore Precision Engineering Ltd (both wholly owned subsidiaries of Temasek Holdings) on the cross-border privatisation by Singapore Aerospace Manufacturing Pte Ltd and Singapore Precision Engineering Ltd and exit offer of LKT Industrial Berhad, a public listed company and a precision industrial machinery manufacturer.

• Advised Malaysian Technology Development Corporation, a venture capital outfit set up by the Malaysian Government, on its acquisition of TT Vision Technologies Sdn Bhd, a high technology company.

• Advised Cradle Fund Sdn Bhd, a Malaysian Government investment fund on its investments in Bid Resources Sdn Bhd, Tecforte Sdn Bhd, Gegas Untung Sdn Bhd and CK Agrifeed Sdn Bhd, the first of 5 investee companies of Cradle Investment Programme fund.

• Advised Genting Plantations Berhad on its cross-border joint venture with Simon Property Group to develop, construct, manage, operate and lease outlet malls selling premium brand apparel and general merchandise in Malaysia and Singapore under the brand of Chelsea Premium Outlets.
  

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