04 Nov 2015
Stephenson Harwood (Singapore) Alliance advises on M&A deals worth $300 million
Stephenson Harwood (Singapore) Alliance has advised on three high-profile M&A transactions across Asia in September and October 2015, with a total value of approximately US$300 million.
Stephenson Harwood (Singapore) Alliance has advised Digicel Group Limited on the regional aspects of the sale of its controlling 75% stake in Digicel Asian Holdings Pte. Limited, the indirect parent of its Myanmar tower operations, to edotco Group Sdn Bhd, a subsidiary of the Axiata group. The transaction remains subject to customary closing conditions, and the receipt of relevant regulatory approvals. Davis Polk & Wardwell also advised Digicel Group Limited on the transaction.
Digicel Group Limited is a leading provider of wireless communications services in the Caribbean, Central America and Oceania regions, operating in 33 local markets.
The Stephenson Harwood (Singapore) Alliance transaction team was led out of Singapore by corporate partner Tom Platts, who was assisted by corporate of-counsel Helen Rhind-Hufnagel and corporate associate Kyaw Zin Htet (a Singapore law qualified Myanmar national). Myanmar law advice was provided by Hnin Ei Ei Aung at Stephenson Harwood's associated firm in Myanmar, U Tin Yu & Associates.
In addition, Stephenson Harwood (Singapore) Alliance, in conjunction with the Stephenson Harwood corporate team in Shanghai, has advised Jungheinrich AG on its acquisition of the MIAS Group. The transaction completed on 1 October 2015, following approval by the German Federal Cartel Office, and the Austrian competition authorities.
Jungheinrich AG is one of the world's leading companies in the material handling equipment, warehousing, and material flow engineering sectors. With the acquisition of the MIAS Group, Jungheinrich AG expects to expand its technology portfolio in the field of automated warehouse solutions. The MIAS Group is an intralogistics equipment manufacturer in the field of warehousing and transportation technology. It specialises in telescopic tables for pallets and stacker crane and load handling technology products with locations in Germany, Hungary, Singapore, China, the US and Italy.
The wider Stephenson Harwood transaction team was jointly co-ordinated by corporate partners Tom Platts, Elaine Beh (Singapore) and CF Lui (Shanghai), with assistance from senior corporate associate Emma Nicholls and corporate associate Kyaw Zin Htet (Singapore) and corporate associates Frank Li and Zoe Zhu and Fanny Gu (Shanghai).
Heuking Kühn Lüer Wojtek also advised Jungheinrich AG on the transaction.
Most recently, Stephenson Harwood (Singapore) Alliance has advised one of its long-standing US clients on its acquisition of a significant international accounting and management consulting firm with operations in Asia. The transaction closed in October 2015, but has yet to be announced.
The Stephenson Harwood (Singapore) Alliance transaction team comprised of corporate partners Tom Platts and Allan Tan, senior corporate associate Emma Nicholls and corporate associate Kyaw Zin Htet.
Tom Platts commented,
"We're delighted to have had the opportunity to advise on these exciting and sizeable regional transactions. We have seen a significant amount of deal-flow across Asia this year, and these transactions follow a variety of other recent high-profile M&A matters that we have advised on in the region, including ENGIE's (formerly GDF Suez) acquisition of Keppel FMO in Singapore and Qatar and its district cooling joint venture at Northgate Cyberzone in the Philippines, as well as Myanmar Investment International Limited's consortium investment as co-shareholder with TPG Growth in Apollo Towers in Myanmar.
These transactions clearly demonstrate the strength-in-depth of our corporate practice across Asia, and our ability in Southeast Asia to provide seamless Singapore law advice through our association with Virtus Law, Myanmar law advice through our association with U Tin Yu & Associates, and Indonesian law advice through our association with Christian Teo & Partners."