| Kudun Sukhumananda | Chai Lertvittayachaikul | Thitawan Thanasombatpaisarn | Yanin Sirilak

Thanulux Public Company Limited’s major restructuring and expansion of investment with a total value of THB 8.8 billion.


Kudun and Partners has successfully represented Thanulux Public Company Limited (“TNL”), the biggest market leader in the manufacturing and sale of ready-made clothes and leather goods in Thailand, on the listed company’s major restructuring and expansion of its investment with a highly significant total value of THB 8.8 billion.

The transaction, requiring both knowledge and expertise in capital markets and M&A, is a highly multifaceted and complicated matter involving five reputable listed companies (TNL, Saha Pathana Inter-Holding (“SPI”), BTS Group Holdings (“BTS”), Noble Development (“Noble”), and Rabbit Holdings (formerly known as U City (“U”)).

The transaction was divided into five major parts, starting with our client, TNL issuing shares via a private placement to BTS at a transaction value of THB 2.88 billion and subsequently, issuance of shares via a rights offering to its existing shareholder with a value of THB 3.05 billion.

With the newly injected funds, TNL acquired Oxygen Asset Co., Ltd. from SPI for THB 835.7 million and invested further in acquiring 50% shares of seven real estate companies from U (which are joint venture companies between U and Noble) at a total investment value of THB 531.9 million. The total value of these projects is worth more than THB 2.4 billion. There was also a loan repayment of THB 1.5 million to shareholders.

Through the restructuring, TNL’s market value could potentially be worth more than THB 10 billion.

The deal was led by Kudun Sukhumananda and Chai Lertvittayachaikul, partners of the firm, together with Thitawan Thanasombatpaisarn and Yanin Sirilak, senior associates, and assisted by associates; Viparat Timprathuang, Jeeranant Geevorakulnont, Kamonrat Kongtheing, Supajit Koosittiphon, Kodchakorn Laungratanamas, Natdanai Chitsadanon, Natthamol Dechpokked, Sirivipa Kittisubun and Wilin Somya.

The deal is awarded “LegalOne Merits (Exemplary)” by Legal One, an independent global research company.

Find out more information on these links;

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