WongPartnership Guides Thai Beverage In Major Real Estate Divestment Deal

WongPartnership Guides Thai Beverage In Major Real Estate Divestment Deal

WongPartnership, one of Singapore's leading law firms, has advised Thai Beverage (ThaiBev), Southeast Asia's largest brewer, on the divestment of its real estate assets through a share swap with other entities owned by Charoen Sirivadhanabhakdi.

This strategic deal will see ThaiBev, known for its brands such as Chang beer and Grand Royal whisky, focus solely on its drinks and food business. As part of the transaction, ThaiBev will transfer its 28.8 percent stake in Singapore-based Frasers Property, valued at approximately $1.6 billion, to TCC Assets, a property firm.

In exchange, TCC Assets will transfer shares of equivalent value in Singaporean drinks and food company Fraser and Neave (F&N) to ThaiBev. This deal values F&N at around S$5.2 billion ($3.9 billion) and Frasers Property at approximately S$7.4 billion.

The WongPartnership team advising ThaiBev was led by senior consultant Annabelle Yip, along with partners Kevin Ho, Jayne Lee, and Valerie Lim, supported by partners Audrey Chng and Chan Jia Hui.

WongPartnership also represented DBS, ThaiBev’s financial advisor for the transaction. The DBS team was led by partners Quak Fi Ling and Chiang Yuan Bo.