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Notable Transactions


Power Utility


(Australian Provincial Government)


Valued ownership of rights of way of large-scale power grid operator undergoing privatisation and auction. Company subsequently sold for a $2.7 billion to US buyer.


Newspaper/Technology


(Dutch Company)


Developed valuation for start-up company with new technology involving a virtual private multicast satellite network to produce online newspapers. The company sought to raise funds in a regulated US environment and succeeded in obtaining $65m.


International Knitwear


(Eastern Europe)


Developed the strategy and valuation for a business that was part of the first private equity fund and needed access to capital. Company raised $650m funding from US providers of funds.


International Computer Business


(UK Company)


Worked in conjunction with the management team to design and develop a managing for value programme for a major computer business purchased by a Japanese global business needing to raise funds from the capital markets.


South American Language School


(Brazilian Non-profit making Business)


Worked in conjunction with the senior management to design and develop a managing for value programme for the largest provider of English language training in need of raising external funds for the first time.


Business to Business Technology


(British Company)


Strategic plan, business plans and valuations undertaken from start-up to ultimate AIM listing.


International Wellness Business


(German Company)


Strategic plan, business plans and valuations developed for established wellness turnkey solutions provider seeking to raise €100m from private equity sources.


Investment Trust Manager


(Private Offshore Company)


Advised offshore fund Management Company focusing on pre - IPO high-technology direct investment. Initiated and completed equity investment in five start-ups.


Retail Services Provider


(Public French Company)


Evaluated industry regulations, market factors and competitive position of acquisition targets. Assisted with negotiations.


Electric Power Distributor


(Private Philippines Company)


Reviewed and extended in valuation of Philippines utility for IPO filing.


Chemicals


(Global Company)


Advising on the valuation and establishment of joint ventures in the People's Republic of China


Private Equity


(International Financial Services)


Assessing acquisition targets (in excess of US$1 billion) and devising appropriate management for value systems for use by senior management within the acquired businesses to facilitate desired exit strategies.


Educational Publishing Co.


(Private UK Company)


Advised company on structuring for management buyout and raising of funds.


Corrugated Container Co.


(Consortium of International Shareholders)


Produced business, expansion and financing plan for pan - Asia owner of branded containers company undergoing complete restructuring. Raised equity with UK, Australia and offshore investors.


Utilities Co.


(Privatisation)


Privatisation of a utility company to become a publicly listed company by IPO. It was the first privatisation of a utility company in Thailand and the IPO offering was to both local and international investors. The process included debt capital market funds raising.


Energy Resources Co.


(International Debt Capital Market Fund Raising)


Fund raising transaction for an Asian energy resource company through Euro-Convertible Debentures market - deal offered to both Asian and European investors.


Financial Institution Co.


(International Debt Capital Market Fund Raising)


Fund raising transaction for a leading financial institution in Thailand. The deal was among the first of its kind in Euro-Japanese Yen market - deal offered to both Asian and European investors.


Conglomerates (Holding) Co.


(International Debt Capital Market Fund Raising)


The transaction involved advising the company in raising fund in the Euro-USD market with asset backed securities. The deal offered to both Asian and European investors.


State Owned Financial Institution.


(International Loan Syndication under ADB Partial Guarantee)


The transaction was the first international fund raising after 1997 Financial Crisis in Thailand. It had the highest number of international banks participating in the transaction. The funding amount was $1 billion under a partial guarantee by Asian Development Bank. It achieved high recognition via a partial guarantee by ADB significant in light of the financial crisis in Thailand. It was awarded “Deal of the Year” by many leading financial magazines.


Electricity Generating Authority (State Owned Utility)


(International Debt Capital Market Fund Raising in the Global Bond Market with IBRD Partial Guarantee)


The transaction was the most reputable deal under a partial guarantee by IBRD (Word Bank) after the financial crisis in Thailand. It was the first ever of this kind of deal offering in the global bond market and it was rated much higher than the sovereign from both S&P and Moody’s. The offering was successfully closed during a financial crisis in Russia and was awarded “Deal of the Year” by a number of leading financial magazines. It helped to regain the credibility of Thailand after the financial crisis in the international debt capital markets.


Petrochemical Co.


(Local and International loan syndication and Various Export Credit Agencies)


The transaction involved advising the company to refinance from various ECAs such as US-EXIM and JBIC into local currency. The deal was one of the largest refinancings in local currency transactions after the 1997 Thai financial crisis. Consequently, the refinancing led to the successful launch of an IPO at more than 3 times of the pre-refinancing offering price.


State Enterprise (Aeronautical)


(Structural Refinancing)


The transaction began with general advising on the reduction of the long term financing cost and more effective balance sheet management. The refinancing was a structural deal to match the operational and business model. The final result was highly successful with a large interest expenses saving. In addition, the deal structure has been replicated by many state enterprises and companies.


Telecom and Multimedia


(Expert Opinion)


The transaction was to provide an independent opinion for acquisition of share from existing foreign partner (divestment plan from its foreign parent). The transaction was one of the most reputable deals. The assignment included valuation of the company business and reviewing its financing and business plan.


Food Conglomerate


(Expert Opinion)


The company was the leader in consumer goods in Thailand. The requirement was to provide an independent opinion for its divestment to the board and major shareholders as part of the good corporate governance. It involved company valuation and the assessment of divestment opportunities.


Merger and Acquisitions


There are a number of Merger and Acquisition transactions which have successfully closed and some are still on going. Sectors/company types are as follows:


  • Chemicals
  • Construction
  • Engineering Consultancy
  • Media
  • Software & Animation
  • Air Conditioning
  • Manufacturing of Electricity Cable
  • Real Estate
  • Financial Institution