Corporate Finance

We provide both strategic and tactical advice with respect to cross-border mergers, acquisitions, divestitures, reorganizations and restructurings. Our focus is often related to creating or unwinding strategic investment relationships between Asian-based enterprises and their international investment partners. We deliver results not only because of our long standing business relationships across SE Asia, but also because of the breadth of our expertise in industries relevant to this region.

Following is a selection of our completed assignments by industry segment:

Energy

  PT Indonesia Power
Advised state-owned Indonesia Power, Indonesia’s largest power producer with 127 power plants under management, in the development of a medium term financing plan.
December 2004

  PT Perusahaan Pertambangan Minyak dan Gas Bumi Negara (Pertamina)
Advised PLN in restructuring and arranging external financing for PT Geo Dipa Energy, a geothermal power company owned jointly by PLN and Pertamina.
June 2005

  Global Process Systems, Inc.
Advised Global Process Systems, Inc. (GPS), an oil & gas equipment provider and member of the Abu Dhabi-based Al Jaber Group, with respect to acquiring a 17.5% stake in PAE (Thailand) Public Company Limited, an oil and gas platform company.
December 2007

Also advised GPS in its subscription of new shares and stock warrants issued by PAE, increasing GPS’ stake in PAE to 49%.
February 2008



Consumer & Industrial

  Ballarpur Industries Limited
Advised Ballarpur Industries Limited (“BILT”), India’s largest manufacturer of writing and printing paper, with respect to acquisitions of pulp, paper, and plantation assets in Malaysia and Indonesia, with an aggregate value in excess of US$150 million.
July 2004

  Stora Enso Oyj
Advised Stora Enso, Finland’s largest and world’s second largest paper products company, in the sale of its 18.8% interest in SET-listed Advanced Agro Public Company Limited (“Advanced Agro”) to a group of Hong Kong investors.
August 2006

  Oji Paper Co., Ltd
Advised Oji Paper, Japan’s largest and world’s sixth largest producer of pulp and paper by revenue, in the sale of its 5.5% stake in Advanced Agro.
August 2006



  Netherlands Development Finance Company
Advised FMO, the development bank of the Netherlands, in the restructuring and sale of its minority stake in PT Kabil Indonusa Estate, an industrial estate operator owning 180 hectares of prime land on Batam Island, to the Citramas Group.
May 2007

  Leading Indonesian beverage can company
Advised shareholders of one of Indonesia’s largest producers and distributors of beverage cans and related canning products, with respect to a divestment of their stake in the company.
November 2007

  Leading Indonesian consumer products company
Advised Indonesia’s and one of the region’s largest manufacturer and distributor of branded beverages, with respect to regional acquisition strategy.
December 2010






Oji Holdings Corporation
  International Paper, Inc.
Advised International Paper with respect to a contemplated divestment of non-core assets in the Southeast Asia region.
February 2011

Leading ASEAN food and beverage company
Provided shareholders with a valuation of this privately-held company and an analysis of strategic fund-raising alternatives.       
               April 2013
      
Oji Holdings Corporation
Advised Oji Holdings Corporation in relation to their offer to acquire certain packaging manufacturing assets from CHH Paper  and Packaging Sdn. Bhd. (In liquidation), for an undisclosed sum.
               May 2013



Banks & Financial Services

  Actis Capital LLP
Performed financial analysis of Stock Exchange of Thailaid (“SET”) listed assets of Actic Capital, a leading Asian private equity investor.
October 2003

  PT Bina Danatama Finance Tbk
Advised Actis, Lazard Capital, and a consortium of development banks, including the IFC and Netherlands Development Finance Company (FMO), in their divestment of a controlling interest in PT Bina Danatama Finance, a leading Indonesian finance company.
October 2003

  ING Groep
Advised ING Groep, a leading Dutch banking and insurance conglomerate, with respect to Asian acquisition targets.
August 2008

 
 
  Credit Suisse AG 
Provided financial and valuation analysis to Credit Suisse in relation to an Asian commodity company investment.
December 2011



Telecommunications

  Telenor Asia Pte Ltd
Advised Telenor Group (“Telenor”), one of the world’s major mobile operators (127 million subscribers), with respect to its Asian portfolio and investment strategy.
December 2003

Advised Telenor in acquiring shares of United Communication Industry PCL (“UCOM”) another Thai telecommunications provider, from members of the Bencharongkul family, for total price of THB 9.2 bn.
October 2005

  Mitsui & Co., Ltd.
Advised Mitsui & Co., Ltd (“Mitsui”) with respect to its successful acquisition of minority investments in Loxbit Public Company Limited, a leading Thai telecommunications and electronics provider.
April 2004

Advised Mitsui with respect to the successful restructuring of outstanding liabilities of affiliate Asia Wireless Communication Company Limited.
October 2004

  TOT Public Company Limited
Served as commercial and financial advisor to TOT, a state-owned Thai telecommunications company, for two (2) successive years.
December 2004, December 2005

  Total Access Communication Public Company Limited (DTAC)
Advised DTAC, a subsidiary of Telenor, with respect to a delisting tender offer for the shares of UCOM.
August 2007