Hunton & Williams (Thailand) Limited advised the Bank of Ayudhya Public Company Limited in a THB 20,833,200,000 (USD 717 million) bridge acquisition facility granted to the BTS Group Holdings Public Company Limited. This is the largest IPO in Thai history, the largest IPO in Asia this year, and the first-ever infrastructure fund in Thailand.
The transaction, completed on April 17, 2013, will allow the BTS Group Holdings Public Company Limited to acquiring the units offered by the fund to maintain a minimum prescribed ownership level of the building.
The Hunton & Williams team was led by partner Manida Zinmerman and senior associate Waranon Vanichprapa in Bangkok. Thitawat Asaves is the firm’s key contact at the Bank of Ayudhya Public Company Limited.
Other law firms working on this transaction are Linklaters; Clifford Chance; Allen & Overy; and the local firm Weerawong, Chinnawat & Peangpanor Company Limited (formerly White & Case (Thailand) Limited).
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