Services

Mergers and Acquisitions

We are active in private and public mergers and acquisitions (M&A). We regularly act for both buyers and sellers in acquisitions and disposals of shares or asset/business transfers, and our rich experience in this area allows us to manage not just domestic deals but also complex multi-jurisdictional transactions. We also advise on reverse takeovers (RTOs) and very substantial acquisitions, and delisting and privatisation exercises.

Recent notable transactions we have undertaken in this area:

  • Advising SGX Mainboard listed Cosmosteel Holdings Limited on the disposal of its warehouse in located at 90 Second Lok Yang Road for S$9,000,000, being a major transaction under Chapter 10 of the listing rules, approved by shareholders on 24 January 2025 and pending completion
  • Advising SGX Catalist-listed GS Holdings Limited on the proposed acquisition of the entire issued and paid-up share capital of Octopus Distribution Networks Pte. Ltd. for an aggregate purchase consideration of S$11.8 million, to be satisfied by the issuance of 166,226,912 new consideration shares at S$0.0379 per share and a total of S$5.50 million in cash, approved by shareholders on 13 December 2024 and pending completion
  • Advised SGX Mainboard-listed Hong Lai Huat Group Limited on the disposal of HLH Agriculture (Cambodia) Co., Ltd. and HLHI (Cambodia) Company Limited for an aggregate cash consideration of US$37,500,000, payable over three tranches, to a high net-worth businessman of Cambodian nationality, completed on 5 August 2024
  • Advised SGX Catalist-listed ISEC Healthcare Ltd in the acquisition of certain strata-title units or parcels in a new building to be constructed by the Sunny Uptown Sdn. Bhd. (under the category of use of medical care) for a purchase price of RM85,778,980, approved by shareholders on 28 March 2024 and pending completion
  • Advised SGX Mainboard listed SMI Vantage Limited on the acquisition of 51.0% of issued and paid-up share capital of Provino Logistics Pte. Ltd. for S$1.734 million, satisfied by the issuance of 25,287,500 new consideration shares at S$0.048 per share and S$520,200 in cash, completed on 7 March 2024
  • Advised SGX Mainboard-listed Cosmosteel Holdings Limited and the acquisition of a warehouse in Mukim Senai, District of Kulai, State of Johor, Malaysia for a purchase price of RM21,000,000, being a major transaction under Chapter 10 of the listing rules, completed on 15 February 2024
  • Advised SGX Mainboard-listed SMI Vantage Limited on its delisting from the Mainboard pursuant to a notification of delisting issued by the Singapore Exchange Securities Trading Limited (SGX) pursuant to Rule 1315 of the Listing Manual, without an exit offer, pending completion
  • Advised HKSE Main Board-listed and SGX secondary-listed Courage Investment Group Limited on the voluntary conditional general cash offer by the offeror, Get Nice Securities Limited, for and on behalf of the offeror, to acquire all the issued shares of Courage Investment Group Limited (other than those already owned or to be acquired by the offeror) at a price of HK$0.1094 per share, pursuant to the Hong Kong Code on Takeovers and Mergers, completed in February 2025
  • Advised SGX Mainboard-listed VibroPower Corporation Limited on the mandatory conditional cash offer by the offeror, Mr Benedict Chen Onn Meng, to acquire all the issued and paid-up ordinary shares, excluding treasury shares and those already owned, controlled or agreed to be acquired by the offeror and persons acting in concert with him at a price of S$0.02 per share, and to acquire all outstanding (or unexercised) warrants at a price of S$0.001 per warrant, pursuant to Section 139 of the Securities and Futures Act 2001 and Rule 14.1 and Rule 19 of the Singapore Code on Takeovers and Mergers, completed on 9 January 2025
  • Advised the offeror, Gazelle Ventures Pte. Ltd. on its mandatory unconditional cash offer for all the issued and paid-up shares of No Signboard Holdings Ltd (now known as Bromat Holdings Ltd), excluding treasury shares and those already owned, controlled and agreed to be acquired by the offeror and its concert parties, at a purchase price of S$0.0021 per share, completed on 16 May 2024
  • Advised SGX Catalist-listed Memories Group Limited on its voluntary delisting from Catalist under Rules 1307 and 1308 of the Catalist Rules pursuant to a S$0.047 per share exit offer in cash or consideration shares by SAC Capital Private Limited for and on behalf of the offeror, Memories (2022) Pte. Limited, completed on 17 January 2023
  • Advised SGX Mainboard-listed Fabchem China Limited (now known as Lincotrade & Associates Holdings Limited) on the S$25.0 million acquisition of Lincotrade & Associates Pte Ltd amounting to a reverse take-over of Fabchem China Limited, completed on 8 August 2022