21 October 2020 - Article
Withers KhattarWong is representing DKSH Group, a leading market expansion services provider in Asia, on its acquisition of the consumer goods distribution business of Auric Pacific Group Limited in Singapore and Malaysia for approximately S$218.4 million.
The Withers KhattarWong team, lead by corporate partner Leong Chuo Ming, and corporate associates Yap Ling Man and Veronica Chew, supported by IP partner Gretchen Su and tax partner Joanna Yap, are the lead counsel to DKSH for the acquisition. The team is also working closely with leading Malaysian law firm Shearn Delamore & Co on this notable cross-border transaction.
The target’s distribution business’ product portfolio includes more than 150 brands and the business distributes products to some 4,400 customers in Singapore and Malaysia. As part of the deal, the about 420 specialists including the existing management team of the business will join DKSH and will be part of DKSH’s Business Unit Consumer Goods.
Leong Chuo Ming comments: “This is a significant milestone for DKSH in the fast moving consumer goods market expansion services business in Asia. We are very proud to have been involved in this cross-border deal, helping DKSH achieve their strategic business goals.”
This deal underscores Withers KhattarWong’s strength in cross-border mergers and acquisitions. In recent years, the firm has been expanding its corporate practice and amongst its recent experience, including advising on the reverse takeover of Silkroad Nickel and Grab’s pilot project, GrabCycle.