9 October 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that its Bangkok office has advised Oslo-listed Norske Skog (“Norske”), one of the world’s largest producers of newsprint, on the US$33m sale of its shareholding in its Singburi mill in Thailand to a Thai industrial group.
After the competitive bidding process, the new owner plans to continue producing newsprint at the Singburi mill, which has a total newsprint production of approximately 125,000 tons, and is the sole producer of newsprint in Thailand.
Partner Christopher Osborne led the WFW team and was assisted by associates Krit Julapanichakum and Kulkanya Vorawanichar (both WFW Bangkok).
CIMB acted as investment bankers on the deal.
Christopher Osborne, partner at WFW Bangkok, said: “We are delighted to reach agreement with this sale and to see a successful deal for our client. It has been interesting helping them given the tight timeline imposed by the bidding process which was challenging for all parties and required a large amount of effort from lawyers and financial advisors to process and respond to multiple competing bids. We are always excited to work for global clients of the caliber of Norske Skog on cross border transactions.”