Morrison & Foerster represented The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) as mandated lead arranger and underwriter of acquisition facilities for two key acquisitions aggregating close to US$1billion by Siam City Cement Public Company Limited (SCCC), a listco on the Stock Exchange of Thailand and Thailand’s second largest cement producer. SCCC acquires a 99% stake in Sri Lanka leading cement manufacturer Holcim (Lanka) Limited and a 65% stake in leading ready-mix concrete producer LafargeHolcim Vietnam from Switzerland-based building material producer LafargeHolcim Ltd.
Closing of the Sri Lanka acquisition took place August 10, 2016. The Vietnam acquisition is subject to customary regulatory and shareholder approvals, as well as to a right of first refusal of LafargeHolcim’s joint venture partner and is expected to occur later this year.
The deals were led by Singapore finance partner Yemi Tépé. “These deals are among the highest value financing transactions in Southeast Asia to date this year,” noted Ms. Tépé. ”It is extremely encouraging both for MoFo’s Asia finance platform and my own practice that we have been instructed on these significant mandates within a month of my joining the firm. We are confident that the MoFo team will advise on many more market-leading deals as we continue to strategically build out the firm’s finance practice in Asia.”