Panuwat was recently seconded to an international law firm in Hong Kong, he was part of the team in ThaiBev's $11.7 billion acquisition of a stake in Singapore's F&N, and also represented Univentures on its voluntary tender offer of more than 50% shares of Golden Land Property Development in a deal worth $290 million. Specializing in M&A, he counts Siam Commercial Bank, PTT, Berli Jucker and E for L Aim as clients.
EducationLL.B. (1st Class Honors), Chulalongkorn University, 2004
Significant AccomplishmentsRepresentation of Master Ad PLC (MACO) in a joint venture with Malaysia-based EYE Ball Channel to manage outdoor media spaces at the Kuala Lumpur International Airport. The joint-venture company, MACO Outdoor, will have the rights to manage large advertising spaces under a concession of a local business partner. The joint venture is part of MACO's plan to expand throughout the ASEAN Economic Community.
Representation of Global Power Synergy Public Company Limited (GPSC) in the company's first solar power plant project in Ichinoseki Japan. GPSC acquired from Conergy Asia, a 99 per cent stake in Ichinoseki Solar Power 1 GK, the project company holding the right to develop an 18 MW solar power plant in Japan. The capacity will be increased to 20 MW when operations are scheduled to commence in 2017. The transaction is valued at USD 9 million and closed in March 2015.
Representation of Natural Park (NPARK) in the share-for-share swap transaction with BTS Group Holdings Plc (BTSG). NPARK acquired 100% of BTS Assets Co. and Kamkung Properties Co. from BTSC and in return NPARK issued its shares and warrants to BTSG resulting in BTSG holding a 35.64% stake in NPARK which has been renamed U City. BTS Assets Co. and Kamkung Properties Co. are the flagship real estate companies of BTSG. The combined assets, valued at THB 9.4 billion or approx USD 313 million will be the basis for the development of office, hotel and retail projects.
Representation of Siam Commercial Bank (SCB) in the joint venture with CPB Equity, Kasikornbank, True Internet Data Center, and Supernap International to establish Supernap (Thailand) Company Limited, ASEAN's largest data center. The project has been granted the best available tax privilege promotion from the Thai Board of Investment (BOI). Weerawong C&P advised on the project agreements including licensing agreement, construction agreement, and co-location agreement. The transaction is valued at approximately THB 4 billion and closed on December 22, 2014.
Representation of E for L Aim Public Company Limited (EFORL) on the acquisition of the entire share capital of Wuttisak Clinic Inter Group Company Limited ("WCIG"), the largest beauty clinic in Thailand, through WCI Holding Co., Ltd. in which EFORL holds a 60% equity stake and indirectly becomes the major shareholder of WCIG. The transaction value is THB 4.5bn and closed on December 4, 2014.
Representation of Rich Asia Steel Plc. in respect of the sale of shares in its subsidiary, Thai National Products Co Ltd, to Dr Phasin Suebsubanunt, Thiti Kittipattananon and Duendara Limthanakul for approximately THB540 million (USD16.4m). The sale of shareholders equity is a strategic step in business restructuring and corporate spin-off. The transaction was completed on 3 December 2014.
Representation of Scan Inter Public Company Limited on its disposition of 100% of its shares in Scan Inter Far East Energy, which operates a 2.5MW solar power plant in Lopburi Province, to Inter Far East Engineering for the sum of THB 231 million.
Representation of Rexel General Supply and Services (Thailand) Co., Ltd. on its second acquisition in Thailand, 4 Knights International Co., Ltd. which holds a leading position in the downstream oil and gas onshore sector with branches in Bangkok and Rayong, key regions for onshore activities, for the sum of THB 253.8 million. The transaction reinforces Rexel's position in the oil and gas sector and strengthens the group's presence in South-East Asia.
Representation of Sub Sri Thai PCL, the owner of the famous Greyhound cafes in Thailand and Hong Kong and exclusive franchisee of Au Bon Pain, Dunkin Donuts and Baskin-Robbins in Thailand on the sale of its 99% share stake in Industrial Enterprise Co., Ltd. to Sime Darby Plantation Europe Ltd. and Sime Morakot Holdings (Thailand) Ltd. The sale of the cooking oil manufacturing company closed at THB 815 million on September 11, 2014.
Representation of Global Power Synergy Company Limited (GPSC) on GPSC's first offshore venture capital transaction in a strategic investment of USD 15 million in 24M Technologies Inc, a start up venture and new business model for energy storage in the U.S. Other strategic investors included Kyocera Corporation and IHI Corporation, and venture capital investors Charles River and North Bridge Venture Partners.
Representation to Mr. Suchad Chiaranussati on a joint venture with GP Holding Pte. Ltd. and the exclusive licensing agreement with Garrett Licensing LLC for the opening of the Chicago-based premium popcorn store, Garrett Popcorn at Siam Paragon Shopping Complex.
Representation to The Siam Commercial Bank PCL (SCB) in respect of the sale of its 60.86% equity stake in The Siam Commercial Samaggi Insurance PCL (SCSMG) to ACE Group. SCB and ACE Group have reached a conditional agreement on January 13, 2014 for the sale of the equity stake at THB 3.74 billion (approximately USD113 million).
Representation of Rexel Group on the acquisition of USD 20 million or approximately THB 600 million business and assets of Quality Trading Group, one of the largest electrical distributors in Thailand.
Representation of PTT MCC Biochem (PTTMCC) in the proposed joint venture with a Canadian company in relation to polybutylene succinate (PBS).
Representation of PTT MCC Biochem (PTTMCC) on a joint venture between PTT and Mitsubishi Chemical Corporation, in connection with the construction and business operations of polybutylene succinate (PBS) and bio-succinic acid (BSA) projects in Thailand.
Representation of PTT Plc. on a joint venture with Thai Solar Energy Co., Ltd., founded by the Maleenont family, for solar projects with a combined capacity of 80 MW in Kanchanaburi and Suphan Buri, Thailand. The value of the transaction is Baht 1.45 Billion.
Representation of Univentures Plc. on its voluntary tender offer of more than 50% shares of Golden Land Property Development Public Company Limited.
Representation of Berli Jucker Pcl. in connection with the potential acquisition through a bidding process of a majority stake in a company operating convenience stores in Thailand.
Representation of BR Holdings Co. Ltd. in relation to due diligence and the acquisition of shares in Bangkok Ranch Pcl. from Navis Capital and its affiliates.
Representation of IHI Corporation in preparing EPC contracts and on setting up the structure for a major M&A transaction.
Representation of PTT Exploration and Production PCL (PTTEP) in connection with the share offering of PTTEP (issuer), which included a domestic public offering under Thailand's Securities and Exchange Commission regulations, as well as an international offering under Rule 144A/Regulation S under U.S. Securities Act.
Representation of Thai Beverage Public Company Limited on the proposed acquisition of 22 percent shares in Fraser & Neave (F&N) from Overseas-Chinese Banking Group.
© Weerawong, Chinnavat & Partners Ltd., 2018