CNPLaw LLP acted for a group of sellers in Carousell Group’s acquisition of control of Laku6

Deals and cases


CNPLaw LLP acted for a group of sellers in Carousell Group’s acquisition of control of Laku6

Date Published: 14 September 2022 

CNPLaw LLP (“CNPLaw”) acted for a group of sellers in their divestment of a controlling stake in Rebonics Pte Ltd (“Rebonics”) to the leading recommerce group in Greater Southeast Asia, Carousell Group. Rebonics is the parent company of Laku6, an Indonesian electronics recommerce platform offering an online marketplace for buying and selling secondhand mobile phones. The transaction saw the exit of long-term individual and institutional investors in Rebonics, with Carousell Group stepping in with a US$25 million investment in Rebonics to bolster its growth in the Greater Southeast Asia electronics recommerce industry.

The transaction was completed in July 2022. CNPLaw represented, among others, one of the co-founders of Laku6, Mr Alvin Yap, who commended CNPLaw for its team effort in seeing the transaction through to completion.

CNPLaw Partners, Mr Ken Chia and Ms Hazel Ho-Tsastsina, had this to say on the deal: “Having been with Rebonics and its co-founders since early fundraising days, we are very fortunate to have been part of the company’s remarkable journey over the years and are now heartened for our clients to embark on this exciting new chapter with Carousell Group.”


CNPLaw’s Corporate Advisory Lawyers

Ken Chia Legal Partner at CNPLaw LLP image


    Ken heads the Corporate advisory team in the firm and has an international focus in his corporate and M&A work and worked in business development positions with various subsidiaries of the Hang Lung Group in Shanghai and with Informa plc in Singapore. Ken is “Recommended” by The Legal 500 Asia Pacific 2021 for the Corporate and M&A practice and is rated as a “Notable Practitioner” in the IFLR1000 Thirtieth Edition.

    Hazel Ho Senior Legal Associate at CNPLaw LLP

      Hazel’s practice focuses on cross-border M&A, joint ventures, private equity and general corporate advisory. She has over 10 years of experience working in-house and in private practice. Hazel has been recognised as a “Notable Practitioner” for Corporate and M&A practice by IFLR1000 in 2019, 2020 and 2021. Hazel is also named in the Singapore Business Review as one of Singapore's 21 most influential lawyers aged 40 and under in 2020.

      Sylvia Koh Associate at CNPLaw

        Senior Associate
        Sylvia is a senior associate in the Corporate Advisory Practice Group. She graduated from the Singapore Management University in 2016 and was called to the Singapore Bar in 2017. Prior to joining the firm, Sylvia practised in the areas of civil and commercial litigation and has acted for clients from different industries.

        Lai Zheng Yong copy

          Zheng Yong is an associate in the Corporate Advisory Practice Group. He graduated from the University of Birmingham in 2017 and was called to the Singapore Bar in 2021. His main areas of practice include general corporate advisory and mergers & acquisitions.

          Every business involves an amalgam of various stakeholders, such as investors, shareholders and directors. Ideally, each of these stakeholders should have a common vision of what is best for the company. However, this is rarely the case when individual interests are factored into the equation.

          Stakeholder conflicts (regarding issues such as breaches of fiduciary dutiesderivative actionsshareholder oppressionmanagement deadlocksmanagement compensationdividend payments and buy-outs) can be a thorny issue and can leave a company crippled if not addressed promptly.

          Given the diversity of interests at play, we appreciate that a multi-faceted approach is usually the most cost-efficient method of resolving stakeholder conflicts. Therefore, we provide clients with ready access to an integrated team of lawyers (combining the experience of our corporate, dispute resolution and employment law practices where applicable) who will effectively engage the relevant stakeholders in discussions on how best to resolve their differences amicably.

          More often than not, clients are able to avoid costly protracted court proceedings and resolve stakeholder conflicts with discretion and expediency.

          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.