Clients value our local knowledge and depth of experience in the Thai market. Whether a deal involves international clients looking to invest in Thailand or Thai clients seeking opportunities abroad, we provide clients with the regional and global expertise needed to get the deal done.
From our office in Bangkok we advise across a range of practice areas including: banking, projects/energy & infrastructure, acquisition finance and real estate finance, capital markets, (including international securities advice and structured finance) and our corporate/M&A team, where our team is recognised as a market leader for all disciplines, including private equity.
Recent significant transactions include advising:
- True Corporation Public Company Limited on its US$24bn proposed amalgamation with Total Access Communication Public Company Limited to create a new company in accordance with the Public Limited Companies Act.
- Charoen Pokphand Group (CP Group) on its US$10.6bn acquisition of Tesco’s businesses in Thailand and Malaysia, and on the various banking facilities related to the acquisition. This is one of the biggest corporate acquisitions in Thailand’s history and one of the largest in Asia.
- Siam Makro Public Company (Makro) on its group restructuring by way of an entire business transfer of C.P. Retail Holding Company, a holding company of the rebranded Lotus’ operation in Thailand and Malaysia, from three CP Group companies, namely CP ALL Public Company, Charoen Pokphand Holding Company and C.P. Merchandising Company for THB 218bn (approximately. US$6.7bn). The entire business transfer was immediately followed by Makro’s public offering and listing of newly issued shares on the Stock Exchange of Thailand. This marks the largest secondary public offering in Thailand.
- Ngern Tid Lor (TIDLOR) on its initial public offering (IPO) and the listing of its shares on the Stock Exchange of Thailand. We also advised Siam Asia Credit Access and Bank of Ayudhya, who are major shareholders, on the sale of its existing shares in TIDLOR as part of the IPO. This represents the largest IPO in the finance and securities sector and consumer finance sector in Thailand. It is also the fifth largest IPO in the history of the Thai equity capital market.
- Minor International on the THB 9.8bn offering of new ordinary shares to its existing shareholders, domestically and internationally, in proportion to their shareholdings, followed by the issuance of warrants to the existing shareholders. This is the first rights offering in reliance of the preferential public offering exemption under Thai securities law.
- a group of Thai and international lenders on the financing of a 2 x 700MW Hin Kong natural gas-fired combined-cycle project located in Ratchaburi Province, Thailand.
- the consortium of Charoen Pokphand Holding Company Limited and Partners and Eastern High-Speed Rail Linking Three Airport Co., Ltd (the project company subsequently established by the consortium) on the US$7.5bn development of the High-Speed Rail Linked 3 Airports Project in Thailand. This is the largest project to be developed as part of Thailand's Eastern Economical Corridor of proposed infrastructure and other development projects.
- Thai Oil Public Company Limited on the tendering process, negotiation and finalising of engineering, procurement and construction and project management contracts for the US$4bn expansion and upgrade of Sriracha Refinery in Chonburi province, Thailand.
Our renowned experience is recognised by the market:
“Linklaters’ team have in-depth knowledge on banking regulations, providing good quality of work and useful advice."
Band 1 – Chambers Asia-Pacific 2022, Banking & Finance: Thailand
“They’re able to advise on complex Thai and international structures on both the debt and equity sides. With a highly competent team, they provide useful and precise solutions.”
Band 1 – Chambers Asia-Pacific 2022, Capital Markets: Thailand
“Linklaters always goes above and beyond our expectations for legal services. They extensive experience in providing well-structured and insightful analysis for leading Thai and global clients.”
Band 1 – Chambers Asia-Pacific 2022, Corporate/M&A: Thailand
“They have vast experience in handling all stages of projects, including financing, acquisition and development. They assist both sponsors and lenders with major inbound and outbound projects. They have delivered an excellent service to us. The team is very capable and very supportive and knowledgeable.”
Band 1 – Chambers Asia-Pacific 2022, Projects & Energy: Thailand