Mergers and Acquisitions in Singapore

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Mergers and Acquisitions in Singapore

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Benefit from a Mergers and Acquisitions practice with strong and deep experience in both domestic and cross-border, private and public, transactions. We regularly advise strategic and financial vendors and acquirors, across a wide spectrum of industries including the financial, healthcare, manufacturing and technology industries.

Our involvement in this space encompasses every aspect, including carrying out due diligence investigations on all legal aspects (including leading and coordination across several jurisdictions), advising and dealing with regulatory authorities on applicable laws and regulations, advising on the structure of the transactions, preparing and reviewing appropriate documentation, and negotiating and completing the transactions.

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Experience

Tolaram Group and Tolaram Africa: Acting for Tolaram Group ("TG") and Tolaram Africa ("TA"), a subsidiary of TG, on a long-term partnership agreement between TA and leading food company Kellogg Company ("KC") to 1) create a joint venture 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 premier 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 Tolaram Africa Foods Pte Ltd at a later stage for an amount to be determined at the time of the exercise of the right.
Archer Daniels Midland Co ("ADM"), one of the world's leading agricultural processors listed on the New York Stock Exchange: Acting as Singapore counsel for Archer Daniels Midland Co. ("ADM") (one of the world's leading agricultural processors listed on the New York Stock Exchange), in the sale of its global chocolate business to Cargill Inc. ("Cargill"). The multi-jurisdictional sale involving the transfer of ADM's North American, European, Brazilian and Asian plants, ADM's brands such as Ambrosia, Merckens and Schokinag and the transfer of approximately 670 employees from ADM to Cargill, was valued at US$400 million.
Multiple clients: Acting for Jani Antero Rautiainen and Stephen Nicholas Melhuish (Founders) and other minority shareholders in an investment in the company (PropertyGuru Pte Ltd) for an aggregate consideration of S$175 million from a “strategic consortium” of three investors. The group consists of Indonesian media company PT Emtek, venture capital firm Square Peg Capital, and international private investment company TPG.
SHS Holdings Ltd.: Acting as solicitors to SHS Holdings Ltd., a Singapore-listed company in the sale of its entire interests in the TAT Group and Axxmo International Pte Ltd, which collectively operate a distribution business for refined petroleum products, to Brenntag (Holding) B.V., a subsidiary of German chemical distribution company Brenntag AG, for approximately S$100 million.
Frasers Centrepoint Limited (FCL): Acting for Frasers Centrepoint Limited (FCL) in (a) the disposal by its wholly-owned subsidiary, FCL Centrepoint Pte. Ltd. ("FCPL") of its entire 18.99% interest in its joint venture company, Gemshine Investments (S) Pte. Ltd. ("Gemshine") (which indirectly owns Compass Point), to its joint venture partner, Lexis 88 Investments (Mauritius) Limited ("Lexis 88"), a fund indirectly owned by Prudential plc; and (b) the novation of FCPL's share of intercompany loans between FCPL, Lexis 88, Gemshine and five (5) special purpose companies wholly-owned by Gemshine, to Lexis 88 ( the "Transaction"). The aggregate consideration for the Transaction is approximately S$80 million.
Frasers Centrepoint Limited (FCL): Acting for Frasers Centrepoint Limited (FCL) in its acquisition from SQ International Pte Ltd ("SQI") of SQI's entire shareholding interest (held through SQ International (Australia) Pte. Ltd. ("SQA")) in FCL's subsidiary and joint venture company with SQI, Frasers (Australia) Pte. Ltd. ("FAPL") (the "Acquisition"), pursuant to which SQI also assigned to FCL a shareholder's loan of S$69.4 million owing by SQA to SQI (the "Assignment") (collectively, the "Transaction"). The consideration for the deal is approximately S$105 million.
Panasonic Asia Pacific Pte. Ltd.: Acting for Panasonic Asia Pacific Pte. Ltd. ("Panasonic") in their acquisition of shares in RFNet Technologies Pte. Ltd. ("RFNet") from various shareholders as well as subscription for additional shares in RFNet for a confidential sum. RFNET is a Singapore-based custom wireless, surveillance and networking solution company. Following the completion of this transaction, Panasonic has become a majority shareholder of RFNet.
Sunright Limited: Acting for Sunright Limited, a company listed on the Mainboard of the SGX-ST, in the cross-border disposal of approximately 34.62% of the issued and paid-up share capital of KESM Test (M) Sdn Bhd (KESM Test) to its joint venture partner and affiliate KESM Industries Berhad (KESMI), a company listed on Bursa Malaysia (“Proposed Disposal”). The aggregate consideration of the Proposed Disposal is RM35.00 million (approximately S$13.23 million).
Grand Apex Holdings Pte Ltd: Acting for Grand Apex Holdings Pte Ltd in and structured the voluntary conditional cash offer (the “Offer”) by CIMB Bank Berhad, Singapore Branch, for and on behalf of Grand Apex Holdings Pte Ltd, to acquire all the issued and paid-up ordinary shares in Popular Holdings Limited, a company listed on the Main Board of the SGX-ST. The Offer values Popular Holdings Limited at approximately S$255 million.
HSBC Institutional Trust Services (Singapore) Limited: Acting for HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of First REIT, in the acquisition of a hospital in Palembang, Indonesia, for a consideration of approximately S$39.16 million. 4,804,612 new units in First REIT were issued as part consideration for the acquisition.
Vallianz Holdings Limited: Acting for Vallianz Holdings Limited, a company listed on the Catalist Board of the SGX-ST, on the proposed acquisition of OER Holdings Pte Ltd by Vallianz International Pte Ltd, a wholly-owned subsidiary of the Company. The aggregate consideration for the proposed acquisition is up to US$41.5 million.
Food and beverage group: Acting for a food and beverage group in the investment by a private equity firm in its group. The acquisition of shares represents a 51% shareholding interest by the private equity firm for a sum of S$58.1 million and was structured partly as a convertible loan, a subscription for new shares and a purchase of shares from existing shareholders. The private equity firm also has an option to invest a further S$45 million for equity. The proposed investment values the food and beverage group at approximately S$90 to S$95 million.
Parkway HK Holdings Limited: Advising Parkway HK Holdings Limited (“Parkway”) in its joint venture with Media Year Investments Limited (“Media Year”) in the public tender bid by the joint venture company GHK Hospital Limited (“GHK”) to acquire, own, develop, construct, manage and operate a hospital on the site at Aberdeen Inland Lot No. 458, Nam Fung Path, Wong Chuk Hang, Hong Kong (the “Site”). GHK successfully won the bid and it is estimated that the project will involve a capital investment of approximately HK$5 billion (equivalent to approximately S$798.3 million), which is inclusive of the land cost for the acquisition of the Site amounting to HK$1.688 billion (equivalent to approximately S$269.5 million).
CIMB Bank Berhad: Advising CIMB Bank Berhad, Singapore Branch, the financial adviser in the following: (a) the proposed acquisition by Rowsley Ltd (“Rowsley”) of the entire issued and paid-up share capital of RSP Architects Planners & Engineers Pte Ltd (RSP) for a consideration of up to S$187.5 million; (b) the proposed acquisition by Rowsley of vacant land located in the Iskandar Development Region, Johor Bahru Malaysia for a consideration of S$358 million; and (c) the proposed bonus issue of free warrants to existing shareholders of Rowsley.
E2-Capital Holdings Limited: Acting for E2-Capital Holdings Limited (“Company”), a company listed on the Catalist Board of the SGX-ST, in its acquisition of a property development group that is engaged in property development in the Iskandar region of Johor Bahru, Malaysia. The transaction, when completed, will result in a reverse takeover of the Company. The transaction value is approximately S$428 million.

Recognition

Dentons Rodyk named one of Singapore's best law firms for fifth year running

November 1, 2024

Dentons Rodyk has once again been named one of Singapore’s best law firms by national broadsheet The Straits Times and global data research portal Statista.

Dentons Rodyk bags multiple awards at the 2024 Asialaw Awards

October 1, 2024

Dentons Rodyk emerged victorious at this year’s Asialaw Awards.

Dentons Rodyk’s Doreen Sim, Emily Low and Valerie Ong named Women Leaders by IFLR1000

September 19, 2024

International legal market research guide IFLR1000 has recognised Senior Partners Doreen Sim, Emily Low, and Valerie Ong as three of the most influential women lawyers worldwide in their latest Women Leaders 2024 rankings for the second consecutive year.

View all recognition for Mergers and Acquisitions in Singapore

Insights

Maximising value: The strategic role of vendor due diligence in controlled auction sales

November 13, 2024

Singapore: Vendor due diligence has become a strategic and attractive tool that has been utilised in controlled auction sales in Singapore, allowing vendors to proactively identify and address key risks before presenting a target for sale.

Investing in Vietnam: Navigating the regulatory landscape

March 14, 2024

Singapore: Against the backdrop of global supply chain shocks, border closures and lockdowns during the COVID-19 pandemic in countries like China, Vietnam has emerged into the spotlight as a favoured investment geographical location in Asia. In this article, we discuss some regulatory considerations, drawn from deal experience in Vietnam.

The new significant investments review bill to safeguard strategic sectors

November 17, 2023

Singapore: Following recent moves in Australia, China, Japan, the UK and the US to safeguard strategic sectors, the Ministry of Trade and Industry recently introduced the Significant Investments Review Bill (Bill) earlier this month, to ensure the continuity of critical entities in light of the increasing geopolitical tensions across the globe. This article highlights the primary features of the Bill, which investors and businesses in strategic sectors would need to take note of.

View all insights for Mergers and Acquisitions in Singapore

News and Events

Recent Press Releases

Dentons acted in largest healthcare deal in SEA

July 17, 2023

Dentons Rodyk (with Dentons LuatViet as Vietnam counsel) act for SGX-listed Thomson Medical Group (TMG) in the largest healthcare acquisition in South-east Asia, with the purchase of Vietnam’s biggest healthcare group, FV Hospital, for S$517.1 million (about US$381.4 million). This acquisition set a new record as Vietnam's largest healthcare deal to date and represents the most substantial healthcare purchase in Southeast Asia since 2020.

Dentons Rodyk continues to be highly ranked in Chambers Asia-Pacific Guide 2023

December 16, 2022

With 17 practice areas and 26 lawyers ranked, Dentons Rodyk remains highly ranked by renowned legal publication Chambers and Partners in its 2023 Chambers Asia-Pacific Guide. These rankings are a testament to our firm’s strong and dynamic capabilities and demonstrate our commitment to delivering exceptional quality and value to clients around the world.

Dentons Rodyk boosts Corporate practice with two senior lawyer hires

July 1, 2022

Singapore Big Five Law Firm Dentons Rodyk are today announcing the arrival of senior corporate lawyers Evelyn Ang and Emily Low. Together with six other lawyers, they join Dentons Rodyk from Big Four accounting firm EY’s Singapore law practice, Atlas Asia Law Corporation (AALC).

View all press releases for Mergers and Acquisitions in Singapore

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Mergers and Acquisitions in Singapore

Mergers and Acquisitions in Singapore

More About Mergers and Acquisitions in Singapore

Experience

Recognition

Dentons Rodyk named one of Singapore's best law firms for fifth year running

Dentons Rodyk bags multiple awards at the 2024 Asialaw Awards

Dentons Rodyk’s Doreen Sim, Emily Low and Valerie Ong named Women Leaders by IFLR1000

Insights

Maximising value: The strategic role of vendor due diligence in controlled auction sales

Investing in Vietnam: Navigating the regulatory landscape

The new significant investments review bill to safeguard strategic sectors

News and Events

Recent Press Releases

Dentons acted in largest healthcare deal in SEA

Dentons Rodyk continues to be highly ranked in Chambers Asia-Pacific Guide 2023

Dentons Rodyk boosts Corporate practice with two senior lawyer hires

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Mergers and Acquisitions in Singapore

Mergers and Acquisitions in Singapore

More About Mergers and Acquisitions in Singapore

Experience

Recognition

Insights

News and Events

Recent Press Releases

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How can the world's largest global law firm help you today ?

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