16 Nov 2016

Disposal of interest in Leap Forward Holdings Limited

Danny Lim and Caitlin Huang from the Capital Markets / Mergers & Acquisitions Practice Group advised Zana China Fund L.P. in its disposal of its 100% equity interest in Leap Forward Holdings Limited to Intermittent Glow Limited and Elite Giant Limited, for an aggregate consideration of S$25,215,000.

Zana China Fund L.P. is managed by Zana Capital Pte Ltd, a leading private equity firm, and is a fund focused on providing development capital to SMEs with business within Greater China.

Leap Forward Holdings Limited holds approximately 8.02% of the shares in capital of Ying Li International Real Estate Limited, a company listed on the Main Board of the Singapore Exchange Securities Trading Limited.

07 Nov 2016

Transfer of Groupama's general insurance business in Singapore to Reardon Pte. Limited

Partners Simon Goh and Wang Ying Shuang and Senior Associate Benjamin Teo acted for Groupama S.A. Singapore Branch in Singapore (“Groupama”) in the sale and transfer of the run-off general insurance business carried on by Groupama to Reardon Pte. Limited, an insurance company dedicated to managing the run-off of non-life insurance and reinsurance business. The transfer was made under section 49FB of the Insurance Act (Cap. 142) and required the approval of both the Monetary Authority of Singapore and the confirmation of the Singapore High Court. 

04 Nov 2016

Sale of Indoguna (Singapore) Pte. Ltd., Indoguna Dubai LLC, Lordly Company Limited and Just Meat Co., Ltd. to Siam Food Services Limited

Partners Lim Wee Hann and Tan Chon Beng and Associate Mildred Kwok are acting for the shareholders of Indoguna (Singapore) Pte. Ltd., Indoguna Dubai LLC, Lordly Company Limited and Just Meat Co., Ltd. (the " Indoguna Group") in the proposed sale of 80% of shares of the Indoguna Group.

The Purchaser is a wholly-owned subsidiary of Siam Makro Public Company Limited, which is part of the Charoen Pokphand Group, one of the largest cash-and-carry retail companies in Thailand. Siam Makro is listed on the Stock Exchange of Thailand.

The Indoguna Group is a global leader in the distribution and manufacturing of premium food and beverage products, with facilities in Singapore, Hong Kong and Dubai.

 

24 Oct 2016

Voluntary Delisting from Official List of the Singapore Exchange Securities Trading Limited pursuant to a Conditional Cash Exit Offer by way of Selective Share Buyback

Danny Lim, Penelope Loh and Caitlin Huang from the Capital Markets / Mergers & Acquisitions Practice Group are advising China New Town Development Company Limited, which is dual primary listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK"), on its voluntary delisting from the Official List of the SGX-ST, whilst maintaining its listing on SEHK, pursuant to a conditional cash exit offer by way of selective share buyback. Based on the tender price of S$0.07 per share, the group is valued at approximately S$689.22 million. The group is an established integrated urbanisation developer and operator in the PRC.