Firms are guiding Thailand-based company Arise Digital Technology’s USD3.2 billion acquisition of a 24.95% stake in True Corporation from Telenor Thailand Investments, a subsidiary of Norwegian telecommunications group Telenor.
Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, and Baker McKenzie Thailand, the mandated lead arrangers and original lenders on financing for Arise Digital’s purchase. Principals Emmanuel Hadjidakis and Andrea Ng led this team.
Bangkok managing partner Wanwisar Nakarat, senior partner Wilailuk Okanurak and Singapore partners Fiona Gray and Evan Lam led the Linklaters team, which counselled Arise.
A&O Shearman partner James Mythen led the team, providing counsel for Telenor.
Telenor will retain a 5.35% stake in True Corporation.
The transaction is subject to customary conditions and is expected to close within a few months.
Arise’s purchase will see Telenor exit the Thailand market following a 25-year presence.
True Corporation is listed on the Stock Exchange of Thailand and a leading telecoms company in the country, providing mobile, broadband and payTV services.
