Date Published: 16 July 2019
CNPLaw LLP (“CNP”) advised Symphony International Holdings Limited (“Symphony”), a London-listed strategic investment company, on acquiring a significant minority stake in Vietnam-based Indo Trans Logistics Corporation (“ITL”), through a wholly-owned subsidiary for a consideration of approximately US$42.6 million. This was achieved through a structured transaction entered into by the wholly-owned subsidiary of Symphony with Su Misura Pte. Ltd.
Symphony is managed by Symphony Asia Holdings Pte. Ltd. with the objective to provide superior capital growth by investing in high-quality companies and forming long-term business partnerships with talented entrepreneurs. ITL, founded in 2000 as a freight-forwarding company, has since grown to become one of Vietnam’s “national champions” and is the largest independent integrated logistics company with a network spread throughout Vietnam, Cambodia, Laos, Myanmar, and Thailand with more than 2,000 employees across its business units and joint ventures.
Amit R. Dhume, Partner at CNP said:
“We are pleased to be part of the ITL transaction, which shows growing interest of private equity players in Vietnam and the region. Logistics in Asia is an area of interest as well for private equity funds, and we are currently acting for another European private equity fund in its acquisition of logistics assets in Asia. We are well placed to cater to the requirements of private equity funds with our capabilities to assist them in the whole range of services in Asia – right from fund establishment and structuring to assisting in the downstream investments / M&A activity in the Asia Pacific region by working with our network of service providers in the region.”
Each M&A deal entails the confluence of multiple legal disciplines. That is why we take great care when assembling a team for each deal, ensuring that there is an optimal mix of specialisation in the clients’ identified areas of concern, such as tax, employment and intellectual property, and necessary industry-specific experience.
We provide support to our clients at every stage of the deal. We will be there at the beginning of the process, helping to facilitate the negotiations between the parties and advising on the structure of the transaction. Once the parties have reached a consensus, we meticulously prepare the necessary documentation. Recognising that M&A deals are often the first page of a new chapter for the parties involved, we also provide post-transaction support to ensure a smooth transition such as the preparation of shareholder agreements, employment agreements, and other relevant commercial documentation.
Private equity can be a viable source of financing for companies that do not wish to increase their leverage. While the introduction of private equity can help take a company to the next level of its development, the competing interests involved can derail the very growth that such transactions are intended to accelerate if they are not properly managed.
With years of experience overseeing private equity transactions (acting for both private equity investors and companies seeking to raise funds), our lawyers have an acute sense of the interests of both sides and are adept at managing investor relations. This ability to put themselves in the shoes of each party enables our lawyers to identify overlapping interests and pre-empt potential areas of conflict on issues such as the management of the company and the degree of investor protection.
The lawyers from the Banking & Finance Practice Group (BFPG) have always taken pride in providing a comprehensive range of banking and finance services to our clients, including domestic and foreign international banks, other financial institutions as well as non-bank lenders and borrowers, and foreign legal firms acting for parties outside Singapore.
Our banking & finance practice covers the whole spectrum of domestic and international banking & financing work, including restructurings, financings and financial institutions advisory work. We can draw upon a broad base of partners, senior, mid-level and junior associates, all with strong and varied banking & finance product line and country experience.
Our reach is further widened and enhanced by our ability to draw upon the resources of our network of correspondent firms in the region and globally.