Sunil Rai is a partner in our Corporate practice. Sunil concentrates his practice in corporate and commercial areas encompassing domestic and cross border M&A share and asset transactions, joint ventures, investments and divestments, corporate governance, restructuring of entities, employment law matters including formulating stock option/ share award schemes, establishing new businesses and assisting clients in drafting a broad range of contracts. Sunil has a particular interest in the supply chain industry and private investment funds (venture capital/private equity) and also assisting in the growth of various SMEs, start-ups and private funds through establishing new ventures, fund-raising and value creation.
Sunil has assisted in several presentations and articles on business structures, auditors' duties in corporate governance, corporate fraud, mergers regime under Competition Act of Singapore, essentials of contracts, Personal Data Protection Act and amendments to Companies Act (2014).
- Tolaram Group (“TG”) and Tolaram Africa (“TA”), a subsidiary of TG: Assisting on a long-term joint venture between TA and NYSE-listed Kellogg Company (“KC”) to 1) create a partnership between TA and KC to develop snacks and breakfast foods for the West African market and 2) acquire 50% in the Multipro Group, a subsidiary of TG providing sales and distribution services in Nigeria and Ghana, for US$450 million (S$634 million). The partnership also provides KC the right to acquire a stake in TA at a later stage for an amount to be determined at the time of exercise of the right.
- Singapore - based Reebonz, one of the region's fastest growing luxury online retailers, its founder and its existing shareholders: Acting in a S$50 million Series D investment which also included a S$20 million investment by new lead investor, multimedia group MediaCorp, in Reebonz's latest round of fundraising. Also assisting in all previous fundraising rounds (Series A, B and C share issues) by the company which includes investments from investors such as Intel Capital and Vertex Venture Holdings.
- Founders and minority shareholders of PropertyGuru: Advising on the sale of certain existing shares and investment in PropertyGuru Pte Ltd for an aggregate consideration of S$175million from private equity firm TPG, Australian-based venture capital firm Square Peg Capital and Indonesian-based PT Emtek. Previously advised PropertyGuru in a S$60 million investment by ImmobilienScout24, a unit of German telecom giant Deutsche Telekom in 2012 and this investment was one of the largest ever in an Asian start-up at that time.
- BitX Pte Ltd and its founders: Advising on a US$4 million Series A investment by PayU, a subsidiary of Naspers, and Digital Currency Group.
- Redmart Pte Ltd: Advising on S$5.4m fund-raising mezzanine round from various prominent investors.
- Blakes Hotel Pte Ltd: Acting in the acquisition of shares in an investment-holding company that owns Murray Terrace for a consideration price of approximately S$75 million.
- Aica Kogyo Co Ltd: Acting as Singapore counsel in its EUR150 million acquisition of the share capital of Dynea Asia Pacific Holding Pte Ltd which has various subsidiaries across the ASEAN region.
- James Cook University ("JCU"): Acting in its corporate affairs including its plans for expansion in Singapore. Also advised JCU in its buyout of TUV SUD's minority shareholding in the company, James Cook Australia Institute of Higher Learning Pte Ltd ("JCUS"). The consideration paid for the buy-out of TUV SUD's shares, is confidential.
- Sembawang Shipyard Pte Ltd (SSPL): Acting for Sembawang Shipyard Pte Ltd, the wholly owned subsidiary of Sembcorp Marine Ltd, in its S$10 million investment in Ecospec Global Technology Pte Ltd. This gives the shipyard 20% equity stake in Ecospec. Also acted for Sembawang Shipyard in its follow-on investments in Ecospec.
- Singapore Polytechnic, Republic Polytechnic, Temasek Polytechnic, Nanyang Polytechnic and Ngee Ann Polytechnic: Acting in their respective collaborations with Singapore Institute of Technology (SIT) in the building of the SIT campuses on the premises of the said polytechnics.
- Nine sellers including two venture capital firms, Sofinnova Partners and Walden International: Advising and assisting in a cross border M&A involving the sale of all their shares (preference and ordinary) in Sprice Pte Ltd to Travelport (Bermuda) Ltd. The transaction value is confidential.
- Sembawang Shipyard Pte Ltd (SSPL): Acting for Sembawang Shipyard Pte Ltd, the wholly owned subsidiary of Sembcorp Marine Ltd, in a cross border joint venture transaction with Kakinada Seaports. SSPL and Kakinada Seaports formed a joint venture company - Sembmarine Kakinada Ltd (SKL) - in India to establish and operate a one-stop integrated marine and offshore facility on the east coast of India to cater to offshore vessels and merchant ships trading or operating in the area, regarded as one of the world's key oil and gas exploration areas. SSPL will initially hold a 19.9% share of the joint venture's initial investment of US$50 million, with an option to increase to 40%.
- Singapore counsel for a Japanese listed company, Dowa Holdings Co Ltd ("Company"): Acting in its subsidiary's acquisition of all the shares of Modern Asia Environmental Holdings Inc (MAEH). MAEH operates four waste management and disposal facilities in three countries in Southeast Asia (Singapore, Indonesia and Thailand).
- Barclays Global International: Advising on various stock options, share award, cash award and share appreciation schemes of Barclays PLC.
- Nanyang Polytechnic and Chinese Development Assistance Council: Acting in reviewing and advising on investment management agreements with fund managers, Lion Capital and UOB Asset Management.
- Author, “Global Investor Programme – Attracting High Net Worth Individuals To Singapore” Rodyk Reporter, April 2016
- Author, “Venture Debt Programme – A new source of funding development plans for emerging entities”, Rodyk Reporter- Business Bulletin, May 2016
- Co-Author, "Implementation Of Phase II Of The Revised Companies Act", Business Bulletin, November 2015
- Co-Author, "Enhanced Corporate Administration Regime Under The Revised Companies Act", Rodyk Reporter - Business Bulletin, January 2015
- Author, "A Costly Conversation - Preventing a breach of Singapore's Competition Act. Do you know how to protect yourself?", Supply Chain Asia, May/June 2014 issue
- Author, "Personal Data Protection Act - Another legislation that mandates compliance actions" Entrepreneurs' Digest, May/June 2014 issue (Singapore: Association of Small & Medium Enterprises (ASME), 2014)
- Author, "Controlling The Use Of Investment Funds: Tembusu Growth Fund Ltd v Actatek, Inc", Rodyk Reporter - Business Bulletin, March 2013
- Author, "Administration Of Companies In Singapore Under The Proposed Changes To The Companies Act", Rodyk Reporter - Business Bulletin, March 2012
- Author, "Budget 2009 & Corporate Restructuring", Entrepreneurs' Digest, May/June 2009 (Singapore: Association of Small & Medium Enterprises (ASME), 2009)
- Co-Author, "Limited Partnerships - A New Business Entity In Singapore", Rodyk Reporter - Business Bulletin, June 2009
Activities and Affiliations
- Advisor, DBS BusinessClass
- Mediator, appointed under the Community Mediation Centres Act by the Minister for Law
- Mediator, Consumer Association of Singapore
- Vice-Chairman, Residents Committee of Pinnacle@Duxton (an estate comprising about 1,848 households)
- Vice-Chairman, organising committee of inaugural The Pinnacle@Duxton Vertical Challenge 2014 organised by Tanjong Pagar-Tiong Bahru CSC, The Pinnacle@Duxton RC, HDB, World of Sports and Tanjong Pagar Town Council.
- SMA Seminar - Going into Private Practice: Setting Up A Medical Practice, July 23, 2016
- Legislation Update: Companies (Amendment) Act (2014), March 31, 2015
- Recent Developments and Revisions to the Corporate Governance Regime, September 21, 2012
- WDA In-House Legal Seminar, October 29, 2010
- Essentials Of Contracts, July 31, 2008
- Member, Law Society of Singapore
- Member, Singapore Academy of Law
Prior and Present Employment
- Partner - Dentons Rodyk (formerly Rodyk & Davidson LLP) (2005 - present)