CNPLaw LLP advised founder of the Tenderfresh Group in the divestment of a 75% stake in the business to Kimly Limited, a company listed on the SGX-ST, for a consideration of S$54,000,000

Deals and cases

 

CNPLaw LLP advised founder of the Tenderfresh Group in the divestment of a 75% stake in the business to Kimly Limited, a company listed on the SGX-ST, for a consideration of S$54,000,000


Date Published: 7 October 2021 

The Team Advising On The Transaction: Tan Min-Li,  Ge Xiaomeng and Timothy Tan. 




CNPLaw LLP advised the founder of the Tenderfresh group of companies (“Tenderfresh Group”) on the divestment of a 75% stake in the business of Tenderfresh Group comprising, inter alia, central kitchens, restaurants and food stalls, to Kimly Limited, a company listed on the SGX-ST. The aggregate consideration of S$54 million was payable partly in cash, and partly via the issuance of new shares in the share capital of Kimly Limited. Prior to the acquisition, an internal restructuring was also undertaken to streamline the business operations of the Tenderfresh Group.

The divestment was completed on 1 October 2021.

 

CNPLaw’s Mergers and Acquisitions Lawyers

Tan Min Li legal Partner at CNPLaw LLP image
Partner

    Min-Li’s principal areas of expertise are in corporate and financial services. For 2018 and 2019, she was recognised as Singapore’s Top 100 private practice lawyers by Asia Business Law Journal. For 2021, She is rated as “Highly Regarded”, ranked as a “Distinguished Practitioner” and “Recommended” for Capital Markets by IFLR1000, Asialaw Leading Lawyers and The Legal 500 Asia Pacific respectively.


    Ge Xiaomeng 1
    Partner

      Xiaomeng’s practice is focused on corporate finance, M&A and general corporate advisory. Before joining CNP, she started practice in a leading corporate law firm in Singapore. She is fluent in the Chinese language and has been involved in cross-border transactions in the PRC (including Hong Kong), Indonesia, Malaysia, Japan and Australia.



      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 taxemployment 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 agreementsemployment agreements, and other relevant commercial documentation.





      Having handled transactions for numerous local and foreign companies across Asia, extending across a wide range of businesses and industries, we have accumulated significant experience advising on an extensive range of corporate finance transactions.