Allen & Gledhill has advised Singaporean online classifieds business Carousell on its agreement to merge with 701Search, a subsidiary of Norwegian telecoms firm Telenor Group, which was represented by Bird & Bird.

According to Reuters, the merger values the combined company at more than $850 million. 701Search owns online marketplaces Mudah in Malaysia, Cho Tot in Vietnam, and OneKyat in Myanmar.

Telenor will become the single-largest minority shareholder in Carousell with a 32 percent stake in the combined company, Reuters added. 701Search will cease to be a subsidiary company of Telenor Group and will merge its operations with Carousell with immediate effect.

The Bird & Bird team included partners Graeme Maguire, Marcus Chow, Seow Hui Goh, Michelle Chan and Beng Chai Tay.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.

Related Articles

Appointments

KPMG Hong Kong law firm founder heads to CRS

by Nimitt Dixit |

UK law firm Charles Russell Speechlys has hired a team of four attorneys from SF Lawyers, KPMG’s law firm in Hong Kong, led by the firm’s founder and managing partner, Shirley Fu.

Deals

Haiwen, CC advise on China TCM's $2 bln take-private deal

by Hu Yangxiaoxiao 胡阳潇潇 |

Sinopharm Group, an investment consortium led by Sinopharm Group, and China Traditional Chinese Medicine Holdings (China TCM) recently announced a take-private deal for the Hong Kong-listed China TCM through a scheme of arrangement.

Other News

Japan’s TMI establishes 2nd Malaysia alliance, sets up new office

by Mari Iwata |

Major Japanese law firm TMI Associates has entered into an alliance with Malaysian law firm SY Teo & Co, set up by Sze Yi Teo, an associate in TMI’s Singapore office. The alliance will also establish an office in Kuala Lumpur under the name of SY Teo & Co in Association with TMI Associates.