Kudun and Partners have successfully represented Radiant Power Co., Ltd. and Jetion Solar (Thailand) Co., Ltd., a large solar panel manufacturer backed by a Chinese-state-owned company, China National Building Materials Group Corporation, for the acquisition of 100% shares including the transfer of debts related to Engineering Procurement Construction (EPC) work from Pattanathurakit Co., Ltd. for an accumulated sum of THB 960 million. The transaction was unusual as it was initiated by our team since we found out that our client, Radiant Power is looking for power projects to acquire. The transaction involved our team negotiating the commercial terms to allow Radiant Power and Jetion Solar to purchase Pattanathurakit together with the debt. As both clients are of different nationalities, it falls on our Thai and Chinese colleagues to help bridge the gap and structure the transaction that is satisfactory to both parties. The transaction took five months to complete and has indirectly helped the seller from default in payment.
Mayuree Sapsutthiporn, partner and head of China practice, and Chai Lertvittayachaikul, partner and head of renewable energy practice, led the transaction, with assistance from Yanin Sirilak, senior associate, and associates Kamonrat Kongtheing, Thanyawan Khositapha, Warapa Rungrueanganan, and Chutikarn Boonnark. Pariyapol Kamolsilp, partner and co-head of the dispute resolution practice, Kongwat Akaramanee, senior associate and Attapon Tanasanti, associate were also involved to assure the transaction’s success as the transaction is related to the initial litigation matter represented by our dispute resolution team.