Linklaters advises Arise Digital Technology on landmark US$3.2bn acquisition of 24.95% stake in True Corporation

Linklaters has advised Arise Digital Technology Company Limited (ADT), a company founded and wholly owned by Mr Suphachai Chearavanont, Chairperson of True Corporation Public Company Limited (True), on its US$3.2bn acquisition of 24.95% of the shares in True from Telenor Thailand Investments Pte. Ltd. (TTI), representing one of the largest private acquisitions in the Thai market in recent years.

This landmark transaction comprised the purchase of a significant shareholding in True, one of Thailand’s leading telecommunications operators. The deal underscores the strategic importance of True in Thailand’s rapidly evolving telecommunications landscape and reflects investor confidence in the convergence of technology, digital services and telecoms infrastructure across the country.

Linklaters advised on the acquisition and financing transactions. The multidisciplinary and cross jurisdictional Linklaters team was led by corporate partner Wilailuk Okanurak, energy & infrastructure partner Wanwisar Nakarat, banking partner Fiona Gray and financial regulation and structured finance & derivatives partner Evan Lam, providing seamless and comprehensive support the M&A, group restructuring and complex financing workstreams.

Corporate partner Wilailuk Okanurak commented:

“We are delighted to support ADT on this important milestone transaction. Its scale and strategic significance highlight the central role of the telecoms sector in the Thai economy. The cross-border and multi-practice nature of the deal plays to our strengths as an integrated global platform.”