Corporate/M&A: Thailand

THE FIRM This team maintains its position as a highly regarded group of experts with an impressive client base. Over the last year it has seen a particular increase in outbound investment instructions, such as its representation of PTT International during its USD546 million purchase of Straits Resources in Australia.

Sources say: "A very able group of lawyers."

KEY INDIVIDUALS Managing partner Simon Makinson leads the corporate practice and has extensive experience advising on cross-border transactions. He played a central role in the team's representation of Indorama Ventures' acquisition of PT SK Keris in Indonesia and SK Eurochem in Poland. Suparerk Auychai works on a wide range of financing deals across the M&A field, with particular sector expertise in the banking, telecommunications and oil and gas industries. He worked on the Straits Resources purchase described above. Arkrapol Pichedvanichok is an experienced member of the team who handles joint ventures, mergers, foreign investment and securities. He led on Chemical International's USD60 million acquisition of a stake in Myriant Technologies.

THE FIRM This team earns praise for its consistent presence on high-profile deals, particularly M&A transactions; sources agree that the group's work on tenders and foreign investment matters set it apart from many of its competitors in Thailand. It was heavily involved in outbound investment in the last year, and advised on a Thai company's purchase of a US food company.

Sources say: "One of the best in the field; its lawyers have great experience and it produces high-quality work."

KEY INDIVIDUALS The highly talented Kitipong Urapeepatanapong is well regarded for his "knowledge, experience and his ability to resolve issues with ease." Interviewees agree that he plays a key role in keeping this group at the top of the market. Sorachon Boonsong has an excellent reputation and is particularly recognised for his work on insurance transactions and power generation mattters.

THE FIRM This team acts for a combination of major multinational corporations and large domestic firms across the breadth of commercial work. Its extensive client list includes GM, Petronas and Volvo, as well as Thai companies such as Big C. The group regularly works in close conjunction with the firm's projects lawyers on matters such as Hutchison Technology's USD100 million establishment of its first assembly plant outside the USA.

KEY INDIVIDUALS The highly experienced Ratana Poonsombudlert has a background in corporate and energy law, specialising in project finance, M&A and oil and gas. She was a key figure in the Hutchison Technology deal last year. Corporate specialist Prisna Sungwanna maintains her position as a talented associate with responsibility for clients such as IBM and UPS.

THE FIRM This team offers a fully integrated service in the corporate law arena, including joint ventures, strategic investments, corporate restructuring, regulatory and employment matters. It is renowned for its work on cross-border deals. A key transaction for the team was advising Tong Siang on its acquisition of 50% of the total shares in Penn Asia and Jareeporn-Pranita from Spanish company Dogi International Fabrics.

Sources say: "A high-quality firm that is easy to work with."

KEY INDIVIDUALS Andrew Matthews is praised for his "excellent advice and the value he adds" to M&A transactions. He is particularly well versed in cross-border investment and his client list includes numerous multinational corporations.

THE FIRM This team's practice is bolstered by the firm's extensive network of resources, and its varied client list includes telecommunication companies, property developers and UK universities. It regularly handles work ranging from joint ventures to corporate planning and shareholders' agreements.

Sources say: "This group is on the ball and very responsive." 

KEY INDIVIDUALS Chanvitaya Suvarnapunya is the main contact.

THE FIRM This long-established Bangkok team is one of the more prominent of the international firms working in this sector. A key highlight was its representation of Reliance Power in the USD4 billion Sasan power project.

KEY INDIVIDUALS Stephen Bennett has been practising in Thailand for 17 years and has built up an excellent reputation amongst clients and peers.

THE FIRM This is a well-established mid-market group, which is particularly noted for its work with prominent domestic clients. It is regularly instructed to handle joint ventures and corporate restructuring, and its in-depth knowledge of Thai law makes it an attractive proposition to international clients looking to establish a presence in the country.

KEY INDIVIDUALS Clients cite managing director Jayavadh Bunnag as a vastly reassuring presence to have on a deal, with over 50 years' experience of the Thai legal market.

THE FIRM This team's combination of a wider international network and a well-established presence in the Thai market led to it being instructed in some of the country's largest cross-border deals of the past year. Highlights include handling ArcelorMittal's purchase of G Steel. It is also regularly retained in domestic deals by clients such as Bangkok Bank and the Bumrumgrad Hospital.

Sources say: "This is a very active team in the market; we often see Linklaters on large corporate deals."

KEY INDIVIDUALS Group head Wilailuk Okanurak offers extensive experience, particularly in project finance and debt restructuring. She played a key role in advising the Bumrumgrad Hospital last year.

THE FIRM Recently, this well-regarded team has been particularly active in the asset management side of corporate work, setting up a number of property funds for local companies. Highlights include assisting SPSU in its THB700 million sale of shares in Thai Suzuki Motor to Suzuki Motor.

Sources say: "This is a strong local corporate practice."

KEY INDIVIDUALS Charin Satchayan acts as a consultant to the team, and he regularly leads on REIT transactions as well as advising on insurance regulations. Clients are quick to praise his innovative approach.

Since publication, Charin Satchayan has joined Charin & Associates Company Limited

THE FIRM This group handles a variety of complex cross-border transactions covering M&A, joint ventures, inward investment, debt and equity capital markets and regulatory issues. Notable work includes its representation of True Corporation in its high-profile USD200 million acquisition of Hutchison's mobile telephone business. It also advised PTT Aromatics on its proposed merger with PTT Chemicals in what looks set to be one of the largest mergers in Thai history.

KEY INDIVIDUALS Head of North Asia Phillip John specialises in corporate law with particular expertise in M&A, inward investment, joint ventures and equity capital markets. He was the lead lawyer on the Hutchison acquisition.

THE FIRM This team handles the full range of corporate work from joint ventures and M&A to restructuring and infrastructure matters. Major clients such as Chevron and AXA have kept the group busy over the last year, in addition to a substantial amount of restructuring work in the wake of the financial crisis. Its links with the Allens Arthur Robinson regional network means it is adept at dealing with cross-border transactions.

KEY INDIVIDUALS Chatchavej Chitvarakorn is the main contact.

THE FIRM This leading mid-market boutique has been involved in numerous significant deals over the past year on behalf of international clients including BNP Paribas and Allianz. However, the team is best known for its focus on high-quality work for domestic clients such as SumTotal Systems and Ayudhya Insurance.

Sources say: "It gives a tremendous personalised service."

KEY INDIVIDUALS Managing partner Thanathip Pichedvanichok heads the corporate practice and has vast experience in all related matters. He is particularly renowned for his work on high-profile M&A deals. Chawaluck Sivayathorn is an expert in equity and debt transactions and his client roster includes major names such as Standard Chartered and SumTotal Systems. 

THE FIRM This team specialises in assisting with the start-up and operation of companies, covering registration, licences and permits, company secretarial services, tax matters, employment, immigration, regulatory affairs and property. Highlights include representing Nidec in its purchase of 75% of shares in SC Wado.

KEY INDIVIDUALS Cynthia Pornavalai has a long-standing market presence and a deep knowledge of all corporate matters ranging from M&A and debt restructuring to foreign and property investment.

THE FIRM This team offers clients a comprehensive corporate law service and regularly works in close conjunction with the firm's banking and finance group. It specialises in complex cross-border M&A, with expertise in acquisition financing, regulatory issues, international tax matters, competition law, IP, real estate, labour and environmental law. Key deals include handling Tanayong's USD1 billion acquisition of a majority stake in Bangkok Mass Transit System, through a reverse takeover. CIMB Group, Thai Beverage and Vejthani Hospital are other clients of note.

Sources say: "This very active team is remarklably strong in this area."

KEY INDIVIDUALS Peangpanor Boonklum is particularly well known for her expertise in inbound investment, and she has handled a substantial amount of this work over the last year. For example, she led the team acting as Thai counsel to KKR Asia in the acquisition of share in Metalform Group by KKR's subsidiary, MMI Holdings. Weerawong Chittmittrapap played a key role in BJC's acquisition of shares in Malaya Glass Products, a transaction valued at over USD220 million. He has a wealth of experience across the financial services sector and is one of the most prominent lawyers in Thailand. Chinnavat Chinsangaram continues to be valued by both clients and peers for the strength of his corporate practice. He has had a busy year advising on a raft of deals, including assisting G Steel and GJ Steel in the USD250 million acquisition of the companies' shares by ArcelorMittal.