The team involved in the transaction: Ken Chia, Hazel Ho-Tsastsina, Sylvia Koh and Lai Zheng Yong
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.”
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