Clifford Chance

Clifford Chance advises Mitsui on Thai Sugar Investment

Leading international law firm Clifford Chance has advised Mitsui & Co., Ltd. and Mitsui Sugar Co., Ltd. on its investment in Thailand's Khonburi Sugar Public Company Limited, a sugar manufacturer and distributer listed on the Stock Exchange of Thailand.  The investment, which remains conditional on shareholder approval (expected to take place in February 2013) will see Mitsui and Mitsui Sugar acquiring an aggregate 16.7% holding in Khonburi.

Further to the agreement, Mitsui and Mitsui Sugar have also entered into a strategic alliance with Khonburi to expand the scale of Khonburi's operations and grow its overseas business.

"We were delighted to assist Mitsui and Mitsui Sugar on this transaction.  We continue to see a high level of interest by Japanese companies in outbound investments, particularly in South East Asia," said Corporate Partner Andrew Whan, who led the team on this transaction.

"Competition for quality assets in this region will remain high as European and US companies are increasingly shifting their focus on acquisitions in this red hot market."

Andrew was assisted by associate Maiko Adachi in Tokyo, and partner Andrew Matthews, counsel Angela Nobthai and senior associate Sahachai Wibuloutai in Bangkok.

Khonburi is a manufacturer and distributor of sugar listed on the Stock Exchange of Thailand. It produces 250,000 to 300,000 tons of sugar each year which is sells both domestically and overseas.